Steel Partners Holdings L.P.

What Steel Partners Holdings L.P. does

Steel Partners Holdings L.P. is a global diversified holding company that directly owns and operates thirteen wholly-owned operating businesses across diversified industrial products, energy services, financial services, supply chain management, and youth sports. Founded in 1992 and headquartered in New York with a presence in 14 countries across approximately 90 locations and roughly 5,200 employees, the company began formal operations as a holding company in 2010, listed on the NYSE in April 2012, and voluntarily delisted and deregistered with the SEC in April 2025.

The portfolio spans nine specialty industrial manufacturers (Dunmore for coated/metallized films, HandyTube for seamless stainless and nickel alloy tubing, IndianaTube for welded low-carbon steel tubing, JPS Composite Materials for composite reinforcement and ballistic protection fabrics including AS9100D-certified output, Kasco for metallic blade products, Lucas-Milhaupt for brazing and metal joining alloys, MTE Corp for power quality filters and transformers, MTI for custom motors and precision-threaded products, and OMG for construction fasteners and adhesives), alongside Steel Energy Services for oilfield well-servicing rigs in the Bakken region, WebBank (an FDIC-insured state-chartered industrial bank in Salt Lake City offering consumer and commercial financing via strategic partnerships), ModusLink (NASDAQ: MLNK, a global supply chain and e-commerce solutions provider with entitlement-management software called Poetic), and Steel Sports (a youth sports coaching platform serving over 100,000 athletes and families annually).

Revenue is generated at the operating-company level through enterprise field sales of industrial inputs to OEMs in aerospace, defense, automotive, construction, and HVAC; well-servicing contracts with upstream oil and gas operators; consumer savings and time deposits and partner-originated loan programs at WebBank; supply chain and e-commerce services contracts at ModusLink; and program-fee participation at Steel Sports. Disclosed combined revenue across the company and affiliates exceeds $1.6 billion. The holding company overlays shared corporate services - including the Steel Partners Purchasing Council, corporate development, strategic sourcing, and legal and shared services - and has historically funded portfolio growth through strategic acquisitions (Handy & Harman Ltd. in 2017; Steel Connect exchange transaction in 2023) and has signaled up to $1B of acquirable enterprise-value capacity financed through balance sheet cash and credit facilities. Executive Chairman Warren G. Lichtenstein, President Jack L. Howard, and CFO Ryan O'Herrin (appointed August 2023) lead the entity alongside a refreshed legal and administrative team added in mid-2023.

Name

Steel Partners Holdings L.P.

Legal name

Steel Partners Holdings L.P.

Website

https://steelpartners.com

Company type

Public

Founded year

2010

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Steel Partners Holdings L.P. is a diversified global holding company that owns and operates thirteen industrial, energy, financial services, supply chain, and youth sports businesses serving B2B OEMs and consumer markets across 14 countries.

Ownership category

akta.pro rank

Product category

Diversified Industrial Holdings

NAICS

Management of Companies and Enterprises (55111), Steel Product Manufacturing from Purchased Steel (3312), Iron and Steel Pipe and Tube Manufacturing from Purchased Steel (331210), Metal Service Centers and Other Metal Merchant Wholesalers (423510)

SIC

Steel Pipe & Tubes (3317), Miscellaneous Primary Metal Products (3390), Wholesale-Metals Service Centers & Offices (5051)

akta.pro primary industry

Steel Products Trading & Service Centers (Flat, Long, Pipe & Tube, Rebar) (IMAKAJAB)

akta.pro secondary industries

Fasteners, Anchors & Connectors (Bolts, Weld Studs, Plates) (IMADACAJ), Specialty & Alloy Steel (Stainless, Tool Steel, Electrical Steel, High-Strength/HSLA) (IMAKABAJ), Construction, Hardware & MRO Supply Clubs (Trades/Contractors) (CRAEAEAG)

Keywords

• Diversified industrial holdings
• Industrial manufacturing
• Supply chain solutions
• Energy services
• Commercial banking

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Supply Chain, Marketing or Sales, Infrastructure

Revenue model

1. Operating Company Revenue: Steel Partners Holdings generates revenue through its portfolio of operating companies across diversified industrial products, energy services, financial services (WebBank), supply chain solutions, and youth sports. The company and its affiliates generate over $1.6B in combined revenue.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Steel Partners Holdings L.P. is a global diversified holding company that owns and operates a portfolio of operating companies across diversified industrial products (specialty fasteners, tubing, composite materials, films, blades, brazing alloys, motors, power quality solutions), energy services (well servicing rigs), financial services (WebBank), supply chain management (ModusLink), and youth sports (Steel Sports). The holding company provides operational excellence, strategic sourcing, corporate development, and shared services across its subsidiaries.

Product overview

Steel Partners Holdings L.P. is a diversified global holding company operating a portfolio of distinct subsidiary companies across multiple industries, including diversified industrial products (Dunmore, HandyTube, IndianaTube, JPS Composite Materials, Kasco, Lucas-Milhaupt, MTE Corp, MTI, OMG), energy services (Steel Energy Services), financial services (WebBank), supply chain management (ModusLink), and youth sports (Steel Sports). Each operating company operates as a separate business unit with its own brand, products, and market focus, while benefiting from shared corporate services and Steel Partners' operational excellence programs.

Differentiator

Problem solved

Functional benefit

Brands

• Steel Sports: Youth sports coaching organization committed to creating a new standard in youth sports and forging the next generation of leaders
• WebBank
• OMG
• ModusLink

Products and services

• Dunmore

Quantifiable outcome

• Over $1.6B in combined revenue across portfolio companies
• +2 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Trinity Place Holdings Inc.minorOthersTrinity Place Holdings entered into a management services agreement with Steel Services Ltd. and issued a Senior Secured Promissory Note to Steel Connect, LLC for borrowings up to $5.0 million. As of year-end 2025, Trinity Place had approximately $1.3 million outstanding under this note.

Scale indicators7 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Hillenbrand Inc. Diversified industrial operating company with Advanced Process Solutions and Motion + Flow Control platforms serving plastics, food, pharma, and industrial end markets. Mid-cap industrial acquirer with similar operating-portfolio structure and steady-state debt-financed acquisition strategy.
• Icahn Enterprises L.P. Activist-led master limited partnership holding diversified industrial, energy, automotive, and food packaging businesses — the closest structural and strategic analogue to Steel Partners Holdings, including similar capital allocation across operating subsidiaries and parent-level MLP economics.
• Loews Corporation: Publicly-traded diversified holding company operating in insurance (CNA), energy, hospitality, and offshore drilling through wholly-owned subsidiaries. Comparable to SPLP in its holding-company-over-multiple-distinct-operating-companies model with active capital allocation across industrial and financial verticals.
• Griffon Corporation: Mid-cap diversified industrial holding company operating Building Products, Home & Building Brands, and Consumer & Professional Products businesses. Comparable size and structure to SPLP, with similar private-equity-influenced capital allocation across industrial niches.
• Leucadia National Corporation / Jefferies Financial Group Inc. Historically Steel Partners' closest small-cap peer — a holding company that owned/managed diversified industrial, financial services, and asset management businesses before being absorbed into Jefferies Financial. The "Leucadia model" is the textbook template for SPLP's diversified operating company strategy.

Broad incumbents

• 3M Company: Large diversified industrial manufacturer operating across industrial, safety, electronics, and consumer markets. Provides a comparison point on how diversified industrial conglomerates trade relative to sum-of-parts valuation, relevant for SPLP's sum-of-parts upside thesis.
• Berkshire Hathaway Inc. Archetype diversified holding company owning industrial, energy, financial, and consumer subsidiaries. Much larger and more institutional than SPLP but represents the same operating playbook of acquiring wholly-owned operating businesses and sharing corporate overhead across them.
• Roper Technologies Inc. Specialty industrial conglomerate that builds and acquires asset-light, software-enabled industrial businesses. Larger and more software-skewed than SPLP, but operates the same playbook of acquiring specialized industrial franchises and applying corporate-level capital allocation.
• DCC plc: London-listed diversified industrial holding company operating across Energy, Technology, and Healthcare. Closest international parallel to SPLP in terms of acquiring and operating multiple mid-sized industrial businesses under a holding company umbrella with shared corporate services.

Emerging players

• Handy & Harman Ltd. (H&H): Pre-2017 Handy & Harman was a public specialty industrials/precious metals holding with metals, brazing, and specialty materials businesses — most of which are now wholly-owned subsidiaries of SPLP after the 2017 merger. A direct legacy comparable for SPLP's industrial materials portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/steel-partners

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Steel Partners Holdings L.P.