Shawnee Tubing Solutions searches for buyer
Shawnee Tubing Solutions LLC (STS), Shawnee, Okla., has retained investment banking firm Equity Partners HG, Easton, Md., to assist in the sale and preservation of its business.
STS, founded as Wolverine Tube Shawnee in 1974, is a manufacturer of copper tubing selling to manufacturers in the HVAC and refrigeration industries. The 342,450-sq.-ft. plant, which has a total annual capacity of more than 65 million lbs., produced and shipped 36 million lbs. of product in 2017.
With capacity and past experience in plumbing tube production as Wolverine, the company had detailed plans to resurrect that segment of its business in 2018, but a significant drop in supplier credit lines have limited those plans. The firm currently employs 300 people.
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