Afinitas Expands Its Concrete Offerings with Major Acquisition in St. Louis
St. Louis has just witnessed an exciting move in the manufacturing sector! The city is buzzing with news that Afinitas, a company known for its wide range of concrete pipe and precast equipment, has made a significant acquisition. They recently snapped up the concrete division assets and intellectual property from Elk River Machine Co. in Minnesota. This strategic acquisition is all about enhancing their services and providing even more comprehensive options for their customers.
What This Means for Afinitas and Its Customers
This acquisition comes after a decision by Hutchinson Manufacturing LLC, a private equity-backed group, to divest the division. They are focusing instead on their core area of custom metal fabrication and related contract work. For Afinitas, this transaction means bringing a variety of new machinery and technology into their fold. The addition consists of a wire mesh bender and roller, a cage expander, forms for both wet and dry casting, and even retaining wall formwork. It’s a significant boost to their existing offerings under their renowned brands like HawkeyePedershaab, New Hampton Metal Fab, and Spillman Co.
Jason Duncan, the CEO of Afinitas, expressed excitement about the acquisition, stating, “The acquisition of ERMC’s technology, combined with our extensive offering, enables us to serve customers with an even more comprehensive selection.” That’s a pretty big deal! The enhancement will not only improve their service offerings but also show their commitment to being a trusted resource for the existing customers of Elk River Machine Co.
New Faces on the Afinitas Team
In a friendly twist to this business story, one of the key players from Elk River Machine Co. will be moving over to Afinitas. Paul Gill, Senior Designer at ERMC, will be joining the Afinitas crew. He’ll be working closely with Dave Stoller, the Global Vice President of Engineering at Afinitas, to ensure a smooth integration of the newly acquired assets. It’s always great to see familiar faces blending into new teams, and this will help in maintaining the quality of service that customers expect.
Insteel Industries Makes Waves with Another Major Acquisition
If that wasn’t enough exciting news for the construction and manufacturing industries, Insteel Industries has also been making headlines! Their subsidiary, Insteel Wire Products Co. from Mt. Airy, N.C., just acquired Engineered Wire Products located in Upper Sandusky, Ohio. This impressive $70 million asset transaction will help bolster their capabilities in the wire drawing, welding, and mesh fabrication sectors.
The Impact of This New Acquisition
Engineered Wire Products operates some robust facilities in Warren, Ohio, and Las Cruces, N.M., and they are recognized for supplying reinforcement products for both residential and nonresidential construction. Their sales report showed a healthy $93.3 million for the 12 months ending September 30, which indicates a strong market presence. H.O. Woltz III, CEO of Insteel Industries, shared his enthusiasm for the acquisition: “This move will expand our geographic footprint and bolster our competitive position in the Midwest market.”
He added that the acquisition would also enhance their customer service capabilities while driving down costs through operational synergies. It seems like both companies are gearing up for an exciting new chapter, and customers can expect improved services and offerings as a result.
A Bright Future for Concrete and Wire Products
As these two significant acquisitions unfold, the future looks bright for both Afinitas and Insteel Industries. With upgraded technology, expanded capabilities, and a dedication to customer service, these companies are setting themselves up for success in the concrete and wire products markets. The competition is heating up, but that ultimately means better options for everyone involved!
