Back To News

Tecum Capital Announces Investment in BICO Steel

Pittsburgh, Pennsylvania – Tecum Capital Partners (“Tecum”) is pleased to announce its new investment in The Burger Iron Company (“BICO” or the Company”), a steel service center that processes heavy carbon steel plate and forged specialty alloy steel. Tecum provided subordinated debt and equity to support Validor Capital’s (“Validor”) acquisition of BICO. All the members of the BICO ( senior management team also invested in the transaction. Terms of the deal were not disclosed.

Stephen Gurgovits, Jr., Managing Partner of Tecum, stated, “We are enthusiastic about BICO’s strong market position selling into the molding, process equipment, stamping, and capital equipment industries.” Matthew Harnett, Partner at Tecum, added, “We’re also excited to partner with Validor for a second time out of Fund II and believe the management team is well positioned to execute on actionable growth opportunities.”

BICO was founded in 1896 as a decorative iron work shop and has evolved into the value-added niche provider it is today. The Company is headquartered in Akron, OH with a second facility in Grand Rapids, MI. BICO offers a broad collection of services including flame cutting, saw cutting, grinding, milling, machining, and furnace operations. The Company serves customers in the aerospace, automotive, canning, paper conversion, consumer goods, building products, and oil and gas end-markets.

About Tecum Capital

Tecum Capital is a Pittsburgh-based private investment firm with over $500 million of committed capital under management providing mezzanine debt, subordinated notes, and private equity for middle market businesses. Since 2006, the team has invested in over 80 platform and add-on acquisitions. Tecum generally invests amounts ranging from $5 million to $18 million to support business owners and financial sponsors in growth financings, full and partial recapitalizations, generational transitions, and buyouts. For more information, please visit

About Validor Capital

Validor Capital is a Boca Raton, Florida based private equity firm focused on acquiring majority interests in established privately held enterprises in the small to lower middle market. Validor’s team consists of experienced private equity professionals and executive managers with decades of experience guiding companies towards growth and operational excellence. With a focus on manufacturing and industrial service businesses, Validor seeks to invest in companies with attractive prospects and revenues ranging from $10 million to $100 million, teaming with high-quality management to drive efficiencies and value creation. Learn more about Validor at