Synalloy Announces Acquisition of Specialty Pipe & Tube, Inc.
February 1, 2015
Synalloy Corporation, a company that engages in diverse business activities such as the production of stainless steel pipe, fiberglass and steel storage tanks, and specialty chemicals, has announced that it has acquired Specialty Pipe & Tube, Inc. Specialty Pipe & Tube is a distributor of seamless carbon pipe, with a focus on heavy wall, large diameter products. End markets for its products include oil and gas, heavy equipment and other industrial businesses where high-pressure applications are required. Specialty Pipe & Tube was established in 1964 and has distribution centers in Mineral Ridge, OH, and Houston, TX. The company generates approximately $30 million in annual revenue and has fewer than 30 employees.
"The transaction will be accretive to Synalloy's earnings in the first year following the closing," said a company spokesperson. According to the company, the transaction is valued at $31.5 million.
For more information contact:
Rick Sieradzki
Synalloy Corporation
P.O. Box 5627
Spartanburg, SC 29304
864-596-1558 / 864-585-3605
investorrelations@synalloy.com
www.synalloy.com
www.specialtypipe.com
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