DBM Global Inc., a family of companies providing fully-integrated structural and steel construction services, and an operating subsidiary of HC2 Holdings, Inc., announced today that it has entered into an agreement to acquire the assets of Mountain States Steel, Inc. (MSS).
Mountain States Steel is a structural steel fabricator founded in 1949 by the Olsen family, with a modern fabrication facility located on approximately 32 acres in Lindon, Utah. MSS has delivered structural steel for many projects throughout the Western United States, including the San Francisco-Oakland Bay Bridge, Alameda Corridor Transportation Authority Bridge, Mile High Stadium (home of the NFL’s Denver Broncos), Paris Hotel & Casino in Las Vegas, and many other bridges, athletic stadiums, commercial buildings, hospitals, and power plants. The MSS assets will be integrated into DBM’s subsidiary Schuff Steel Company.
Financial terms of the transaction were not disclosed, but DBM will complete the acquisition with cash on hand. The agreement is subject to customary closing conditions and is expected to close in the fourth quarter of 2017.
“The acquisition of Mountain States Steel will enhance Schuff Steel’s fabrication capabilities in the bridge and infrastructure sectors, and provide additional fabrication capacity to support projects in Utah and across the Western United States,” said Rustin Roach, Chief Executive Officer of DBM Global. “We are especially excited about the addition of MSS’s bridge fabrication capabilities, which builds upon our recent acquisition of Candraft VSI, a premier bridge detailer and 3D modeler.”