Zekelman Industries Acquires Assets of EXLTUBE from SPS Companies to Strengthen Steel Tube and Pipe Manufacturing Leadership
CHICAGO, IL and MANHATTAN, KS (November 11, 2022) – Zekelman Industries (“Zekelman”), a leading North American manufacturer of industrial steel pipe and tube products, announced today that it has entered into a definitive agreement to acquire the assets of EXLTUBE from SPS Companies, Inc. (“SPS”).
Headquartered in North Kansas City, MO, EXLTUBE manufactures hollow structural sections, mechanical tubing, standard pipe and specialty products. The acquisition strengthens Zekelman’s steel tube and pipe manufacturing capabilities with the addition of three co-located mills and 530,000+ square feet of manufacturing and warehouse space in the strategically located Kansas City region.
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 improved service and an enhanced product offering to customers throughout North America. The cultures of our organizations are highly complementary, and we look forward to beginning this next chapter with the talented team at EXLTUBE.”
Matt Crocker, president and CEO of SPS, also commented, “EXLTUBE is a fantastic business, and SPS has been fortunate to have owned it for nearly 20 years. The people and culture at EXLTUBE are truly special, as evidenced by its track record of sustained profitable growth. SPS has a longstanding relationship with Zekelman, and we are excited for EXLTUBE to embark on this next phase with the support of Zekelman’s ownership.”
J.P. Morgan is acting as exclusive financial advisor and Weary Davis is acting as legal counsel to SPS. BakerHostetler is acting as legal counsel to Zekelman.
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 top producer of electrical conduit and elbows, couplings and nipples in North America. Zekelman Industries delivers a broad range of pipe and tube solutions that build its customers’ success.
About SPS Companies, Inc.
Headquartered in Manhattan, KS, SPS Companies is a diversified metals company and leading provider of carbon steel products and fabrication solutions through the Midwest and Northern Mexico. SPS distributes and fabricates carbon steel products, stainless steel products, and galvanized tubing, and operates a fully integrated steel service center. The SPS family of companies consists of Steel and Pipe Supply, Tubular USA, US Wholesale, Royal Metal, Kooima, and ESP Steel.
For more information about SPS, please visit spsci.com and for more information about EXLTUBE, please visit exltube.com
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