A new round of investment in Our Successful Portfolio Company - GMI
Humble, Texas – March 19th, 2024 – Gulf Manufacturing, LLC, also known as The GMI Group (“GMI”),
a leading supplier of API fittings and flanges to the upstream oil and gas industry, announced today it has combined with Maass Global Group (“Maass”), a global leader in the manufacture and distribution of flanges and specialty forged products, forged bar, seamless pipe, and fittings in duplex, stainless steel, and high nickel alloys. The combined company’s key investors and partners include Alex and Patrick Maass, Main Street Capital Corporation (NYSE: MAIN), Ashland Capital Partners, and several key multi-national management team members.
In commenting on the transaction, the combined company’s CEO, David Nunn stated, “The newly combined company will participate in all global market segments with an extensive supply of manufactured products, and will serve upstream, midstream, and downstream customers. We are excited and eager to explore several growth opportunities for the combined company, facilitated by the combined company and its management team’s deep industry expertise, brand recognition and
generations of experience.”
Alex and Patrick Maass added, “We are proud and excited about the new partnership with GMI’s management team and equity owners. We believe that our entrepreneurial approach is very consistent with GMI’s approach, which will prove beneficial to the combined company by continuing our leading approach to quality and customer service in this new global partnership.”
Founded in 1984 and located in Humble, Texas, GMI is a manufacturer and supplier of fittings, flanges, and specialty products for the oil and gas industry. With existing manufacturing and distribution locations in Humble, TX and Broussard, LA, GMI serves customers throughout the United States.
Maass was founded by Wilhelm Maass in Essen Germany during the 1940’s. Maass manufactures specialty forgings and flanges in stainless and high nickel alloys in Germany and India, distributes bar products through Buxton Special Alloys Ltd., located in the UK and managed by Nick Buxton, and distributes high nickel alloy pipe, fittings, and flanges through Maass Special Alloys, located in the Netherlands and managed by Roel van Leeuwen. Maass also has sales offices located in Singapore, Shanghai, and Dubai.