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Nucor Acquires Steel Racking Manufacturer Elite Storage Solutions

Apr 05, 2022•over 3 years ago

Acquiring Company

Nucor

Acquired Company

Steel Racking Manufacturer

Description

Nucor Corporation (NYSE: NUE) announced today that it has acquired steel racking manufacturer Elite Storage Solutions for $75 million. This acquisition expands Nucor's steel racking capabilities and builds on the company's acquisition of Hannibal Industries last year. Elite Storage Solutions employs 180 full-time teammates at locations in Monroe, Georgia, and Chandler, Arizona.

Company Information

Company

Nucor

About

Nucor and its affiliates are manufacturers of steel and steel products, with operating facilities in the United States, Canada and Mexico. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; precision castings; steel fasteners; metal building systems; steel grating; and wire and wire mesh. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and hot briquetted iron / direct reduced iron; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed