[1][2] The Klesch Group of companies has interests in metals, mining, oil and gas, power generation, chemicals and other traditional "heavy" industries.
[4] In 1969, aged 22, Klesch joined McDonald & Company,[5] then one of the largest regional investment banking firms, based in Cleveland, Ohio, as an associate.
Klesch's responsibilities included developing the legislation that set in motion the deregulation of the securities and financial services industries in the United States.
Whilst at the Treasury Department, Klesch also served as the Ford Administration's representative in negotiations leading to US Government loans and guarantees to various financially troubled entities, including Lockheed and New York City.
He also served as the US Government's representative on the Board of the United States Railway Association, where he played a role in the negotiation and reorganization of troubled railroad companies, most notably the Penn Central Corporation.
8 months after the acquisition, the company was declared insolvent putting 1,300 jobs at risk[26] until in December 2013, when industrialist Alain de Krassny agreed to take over the business in association with OpenGate, a global fund.