CHICAGO, IL and MANHATTAN, KS /ACCESSWIRE / November 11, 2022 / Zekelman Industries (“Zekelman”), a leading North American manufacturer of industrial steel pipe and tubing products, announced today that it has entered into a definitive agreement to acquire the assets of EXLTUBE from SPS Companies, Inc. (“SPS”).
Based in North Kansas City, MO, EXLTUBE manufactures hollow structural sections, mechanical tubing, standard pipe, and specialty products. The acquisition strengthens Zekelman’s steel pipe and tube manufacturing capabilities with the addition of three co-located plants and more than 530,000 square feet of manufacturing and warehousing space in the strategically located Kansas City area.
The acquisition of EXLTUBE adds complementary products and manufacturing capabilities to the Zekelman family of companies. Barry Zekelman, Executive Chairman and CEO of Zekelman Industries, said, “This acquisition enables Zekelman to provide enhanced service and an enhanced product offering to its customers across North America. The cultures of our organizations are very complementary, and we look forward to starting the next chapter with the talented team at EXLTUBE.”
Matt Crocker, President and CEO of SPS, also commented, “EXLTUBE is a fantastic company, and SPS has been fortunate to own it for almost 20 years. EXLTUBE’s people and culture are truly special, as evidenced by its track record of sustained profitable growth. SPS has a long-standing relationship with Zekelman, and we are thrilled that EXLTUBE is embarking on this next phase with the support of Zekelman’s ownership.
JP Morgan is acting as exclusive financial advisor and Weary Davis is acting as legal advisor to SPS. BakerHostetler is acting as legal counsel to Zekelman.
For more information about Zekelman Industries, please visit zekelman.com
For more information on SPS, please visit spsci.com and for more information on EXLTUBE, please visit exltube.com
About Zekelman Industries
Zekelman Industries includes the operating divisions of Atlas Tube, Picoma, Sharon Tube, Wheatland Tube, Western Tube and Z Modular. It is the largest independent manufacturer of hollow structural sections (HSS) and steel pipe, and the leading producer of electrical conduit and elbows, fittings and nipples in North America. Zekelman Industries offers a wide range of pipe and tubing solutions that contribute to customer success.
About SPS Companies, Inc.
Based in Manhattan, KS, SPS Companies is a diversified metals company and leading provider of carbon steel products and manufacturing solutions in the Midwest and Northern Mexico. SPS distributes and manufactures carbon steel products, stainless steel products and galvanized tubing, and operates a fully integrated steel service center. The SPS family of companies includes Steel and Pipe Supply, Tubular USA, US Wholesale, Royal Metal, Kooima and ESP Steel.
THE SOURCE: Zekelman Industries