A Southlake, Texas private-equity firm bought the Canfield Metal Coating Corp. for $1.2 million.
Insight Equity Holdings, LLC., through its portfolio company New Star Metals, Inc., purchased the 460 W. Main St. company July 8, according to a statement from the firm.
The statement says New Star Metals purchased substantially all of Canfield Metal’s assets and renamed the company Canfield Coating, LLC.
Canfield Coating has light gauge coating capabilities and provides galvanized and painted steel coils to a variety of companies in the packaging, automotive, and construction industries.
“We are excited to bring Canfield onto the New Star team,” New Star CEO Pat Murley said in the statement. “Canfield compliments the capabilities we have at our Electric Coating Technologies division and in the coming months we will be working hard to implement the best practices from both divisions.”