Steel Partners Holdings
Steel Partners Holdings L.P. is a diversified global holding company listed on the NYSE under the ticker SPLP, operating in industrial products, energy, defense, logistics, banking, and youth sports with over 5,300 employees across 70 locations in 11 countries.
Company Overview of Steel Partners Holdings
Steel Partners Holdings L.P. operates in diversified industrial products, energy, defense, supply chain management, logistics, banking, and youth sports. With a workforce of 5,300 employees, the company spans 70 locations across 11 countries. Steel Partners focuses on enhancing value through operational excellence and corporate strategic restructuring programs. The company reported first quarter 2024 revenues of $476.3 million, marking a 7.0% increase compared to the same period in the prior year. Additionally, net income for the same period amounted to $34.8 million, reflecting a 40.3% increase.
Founding and Financial Milestones of Steel Partners Holdings
Steel Partners Holdings L.P. was founded in February 1990 and became listed on the New York Stock Exchange under the ticker symbol SPLP on April 10, 2012. The company has launched several successful private investment partnerships, including Steel Partners L.P., Steel Partners II, L.P., Steel Systems L.P., Steel Partners Japan Strategic Fund L.P., and Steel Partners China Access I L.P. With combined revenues exceeding $1.6 billion, Steel Partners remains committed to value creation through operational excellence.
Steel Partners Holdings Subsidiaries and Associated Companies
Steel Partners Holdings L.P. owns and operates businesses through numerous subsidiaries and associated companies. These include Steel Connect, Inc., WebBank, Steel Energy Services, Steel Sports, Dunmore, HandyTube Corp, Indiana Tube Corporation, JPS Composite Materials Corp, Kasco, Lucas-Milhaupt, Inc, MTE Corp, MTI, and OMG. Each subsidiary specializes in diverse areas, from banking and supply chain management to specialized manufacturing services, adding complexity and depth to Steel Partners' business portfolio.
Steel Partners Holdings Programs and Initiatives
Steel Partners Holdings L.P. operates several internal programs aimed at operational excellence. The Steel Partners Operational Excellence Program includes Lean Manufacturing, Design for Six Sigma, Six Sigma, and Strategy Deployment. The company also has a Steel Partners Purchasing Council to leverage consolidated purchasing power and achieve economies of scale. Additionally, the Steel Sports Foundation provides scholarships for underserved youth, enabling them to attend camps and participate on various sports teams.
Financial Services Segment: WebBank
WebBank, a subsidiary of Steel Partners Holdings L.P., is an FDIC-insured, state-chartered industrial bank headquartered in Salt Lake City, Utah. WebBank offers a variety of banking services, positioning itself as an integral part of Steel Partners' Financial Services segment. The bank is known for its diverse financial product offerings and services, catering to a wide range of customer needs.