Exciting Developments in the Concrete Industry in St. Louis
St. Louis is buzzing with news from the concrete industry this week! Afinitas, a top player based right here in St. Louis, has taken a significant step forward by acquiring the concrete division assets and intellectual property from Elk River Machine Co., located in Minnesota. This move isn’t just a smart business strategy; it’s a testament to Afinitas’s commitment to expanding its equipment and service offerings in the concrete pipe and precast sector.
What Does This Acquisition Mean for Afinitas?
The acquisition adds an impressive array of equipment to Afinitas’s portfolio. Customers can now look forward to new offerings such as wired mesh benders and rollers, cage expanders, as well as w wet and dry cast forms. This is an exciting time for the company, particularly as they incorporate these tools under their well-regarded brands like HawkeyePedershaab, New Hampton Metal Fab, and Spillman Co..
Afinitas CEO, Jason Duncan, shared his enthusiasm about the acquisition: “The acquisition of ERMC’s technology, combined with our extensive offering, enables us to serve customers with an even more comprehensive selection.” He also emphasized the importance of maintaining strong relationships with the existing customers of Elk River Machine Co. “Equally important, we look forward to servicing and being a trusted resource to the current ERMC customer base,” he added.
Meet the Team Behind the Integration
To aid in this transition, ERMC’s Senior Designer, Paul Gill, will join the Afinitas team. He will work closely with Dave Stoller, the Global Vice President of Engineering, who is overseeing the integration of ERMC’s valuable assets. Anyone looking to reach out can contact Dave at 319/394-2218 or via email.
Another Major Player Joins the Game: Insteel Industries
Moving on to another exciting acquisition, we have Insteel Industries making headlines! The company, specifically its subsidiary Insteel Wire Products Co. based in Mt. Airy, North Carolina, has acquired Engineered Wire Products (EWP) from Upper Sandusky, Ohio. This acquisition, valued at a whopping $70 million, is all about broadening the company’s capabilities and reach.
EWP specializes in producing essential reinforcement products for both residential and nonresidential concrete construction. Their facilities in locations like Warren, Ohio, and Las Cruces, New Mexico, focus on wire drawing, welding, and mesh fabrication. In fact, EWP reported sales of $93.3 million for the year ending September 30, showcasing their robustness in the market.
Why This Acquisition Matters
The CEO of Insteel Industries, H.O. Woltz III, highlighted the strategic significance of this acquisition. He said, “This move will expand our geographic footprint and bolster our competitive position in the Midwest market.” He also mentioned that acquiring EWP will enhance their service capabilities and help in reducing costs through operational synergies—a win for customers and for the company.
Wrapping Up
So, whether it’s Afinitas expanding its concrete toolset or Insteel Industries extending its geographic reach, there’s a lot happening in the St. Louis concrete industry and beyond. These companies are not just growing their portfolios; they are also enhancing their ability to serve customers better. It’s a thrilling time for local and regional businesses as the concrete world is set to see some exciting changes and improvements ahead!
