Steel and Pipe Supply Company, Inc. (SPS), a privately-held steel distribution and manufacturing company, has acquired St. Louis-based Tubular USA, Inc., a fabricator and distributor of galvanized steel products. The Fortune Group served as the exclusive financial advisor to Tubular USA.
Since 1993, founders, Mark Meiners and Carl Meiners, grew Tubular USA to become one of the largest suppliers of inline galvanized steel products in the Midwest by providing specialized pipe and tubular products for a range of industries, including agricultural, recreational, structural materials, transportation and solar power. At the time of the acquisition, Tubular USA generated annual sales of approximately [$85] million from distribution facilities in Missouri and Texas. Following the acquisition, the management of the Company remains under the leadership of Carl and Mark Meiners.
Headquartered in Manhattan, Kansas, SPS is one of the largest independent steel companies in North America offering steel distribution and flat-rolled steel processing, as well as pipe and tube manufacturing. Primarily focused on the black carbon steel market, the acquisition of Tubular USA allows SPS to further diversify its operations and enter the attractive galvanized steel market.
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