Key Takeaways
- • Crosstown Capital Partners acquired MAK Steel Services and Trinity Steel Services, vertically integrating fabrication and erection capabilities under single ownership to eliminate coordination delays and improve scheduling control across the steel package lifecycle.
- • The combined entity operates across the full value chain—from shop drawing and fabrication through field erection and installation—positioning it to capture handoff efficiencies in a market where fabrication and erection are typically awarded under separate contracts.
- • The global structural steel fabrication market stands at $162 billion in 2026 and is forecast to reach $200 billion by 2031 at a 4.3% compound annual growth rate, with North American demand driven by infrastructure spending, industrial reshoring, and data center construction.
- • Both Indiana-based companies are led by President Kyle Elkins; MAK is headquartered in Seymour (65 miles south of Indianapolis) with offices in New Whiteland, while Trinity operates from New Whiteland (15 miles south of Indianapolis), positioning Crosstown for growth in Midwest industrial and commercial construction.
- • Crosstown Capital typically invests in Midwest and Southeast service businesses with $1–$4 million EBITDA; Generational Capital Markets served as financial advisor, with transaction leadership from Brenen Hofstadter and Phil Pizzurro.
Summary
Crosstown Capital Partners has completed the acquisition of MAK Steel Services and Trinity Steel Services, two Indiana-based structural steel contractors, creating a vertically integrated operation that combines fabrication and field erection under unified ownership. The strategic pairing addresses a structural inefficiency in the industry: fabrication and erection services are traditionally awarded under separate contracts, creating coordination and scheduling risks when material delivery, fabrication quality, or field conditions diverge. By consolidating both functions, the combined company gains operational control over the entire steel package from initial design drawings through final installation.
MAK Steel Services, headquartered in Seymour, Indiana, specializes in fabricating structural and miscellaneous steel for commercial and industrial projects. The company cuts, drills, welds, and assembles structural steel while also producing custom products in carbon steel, stainless steel, and aluminum. Its Ornamental Products Division manufactures visible architectural metalwork—railings, stairs, and similar features—distinct from structural framing. MAK operates its own fabrication facilities and supplements internal capacity with contracted fabricators when project scope exceeds in-house availability, enabling competitive bidding across a broad range of project sizes. Trinity Steel Services, operating from New Whiteland near Indianapolis, handles erection and installation of structural steel on commercial and industrial sites. The company holds AISC certification, indicating an audited quality management system, and serves as a certified training institute through the National Center for Construction Education and Research. Its workforce holds American Welding Society certifications and advanced rigging credentials.
Both companies operate under President Kyle Elkins, who emphasized the partnership's foundation in employee performance, customer relationships, and family support. Nick Likens, managing partner of Crosstown Capital, characterized MAK and Trinity as "the go-to steel contractor" known for reliable material delivery and on-schedule installation. Crosstown Capital focuses on majority-control investments in Midwest and Southeast-based service businesses with $1–$4 million EBITDA, with sectoral emphasis on HVAC, electrical, roofing, industrial maintenance, and related trades.
Market fundamentals support the acquisition thesis. The global structural steel fabrication market reached $162 billion in 2026 and is projected to expand to $200 billion by 2031, representing 4.3% compound annual growth, according to Mordor Intelligence. North American demand is anchored by Federal Highway Administration infrastructure spending ($72.6 billion in fiscal 2026 alone), industrial reshoring initiatives, and accelerating data center construction. Steel framing demand correlates with non-residential construction, particularly warehouse, manufacturing, and data center projects in the Midwest, while office construction remains subdued. Generational Capital Markets provided financial advisory services, with Brenen Hofstadter and Phil Pizzurro leading the transaction team.
MAK Steel Services, headquartered in Seymour, Indiana, specializes in fabricating structural and miscellaneous steel for commercial and industrial projects. The company cuts, drills, welds, and assembles structural steel while also producing custom products in carbon steel, stainless steel, and aluminum. Its Ornamental Products Division manufactures visible architectural metalwork—railings, stairs, and similar features—distinct from structural framing. MAK operates its own fabrication facilities and supplements internal capacity with contracted fabricators when project scope exceeds in-house availability, enabling competitive bidding across a broad range of project sizes. Trinity Steel Services, operating from New Whiteland near Indianapolis, handles erection and installation of structural steel on commercial and industrial sites. The company holds AISC certification, indicating an audited quality management system, and serves as a certified training institute through the National Center for Construction Education and Research. Its workforce holds American Welding Society certifications and advanced rigging credentials.
Both companies operate under President Kyle Elkins, who emphasized the partnership's foundation in employee performance, customer relationships, and family support. Nick Likens, managing partner of Crosstown Capital, characterized MAK and Trinity as "the go-to steel contractor" known for reliable material delivery and on-schedule installation. Crosstown Capital focuses on majority-control investments in Midwest and Southeast-based service businesses with $1–$4 million EBITDA, with sectoral emphasis on HVAC, electrical, roofing, industrial maintenance, and related trades.
Market fundamentals support the acquisition thesis. The global structural steel fabrication market reached $162 billion in 2026 and is projected to expand to $200 billion by 2031, representing 4.3% compound annual growth, according to Mordor Intelligence. North American demand is anchored by Federal Highway Administration infrastructure spending ($72.6 billion in fiscal 2026 alone), industrial reshoring initiatives, and accelerating data center construction. Steel framing demand correlates with non-residential construction, particularly warehouse, manufacturing, and data center projects in the Midwest, while office construction remains subdued. Generational Capital Markets provided financial advisory services, with Brenen Hofstadter and Phil Pizzurro leading the transaction team.
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