CHICAGO and MANHATTAN, Kan. — Zekelman Industries, a leading North American manufacturer of industrial steel pipe and tube products, announced Monday that it has entered into a definitive agreement to acquire the assets of Exltube from SPS Companies Inc.
Exltube, headquartered in North Kansas City, Missouri, 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-plus 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.
“This acquisition enables Zekelman to provide improved service and an enhanced product offering to customers throughout North America," said Zekelman Executive Chairman and CEO Barry Zekelman. "The cultures of our organizations are highly complementary, and we look forward to beginning this next chapter with the talented team at Exltube.”
“Exltube is a fantastic business, and SPS has been fortunate to have owned it for nearly 20 years," said SPS President and CEO Matt Crocker. "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.”