In a move that will double the company’s workforce and geographic scope, Stuart Steel Protection (SSP) has agreed to acquire the assets of Colorado -based energy manufacturing supplier Northwestern Cathodic (NWCAT) (Grand Junction, Colorado, USA).
NWCAT specializes in providing cathodic protection (CP) materials and services for utilities, propane, onshore oilfield production equipment, vessels, and tanks. The group has locations in Grand Junction and in Greenville, South Carolina, USA.
In January, Integrated Utility Services (IUS) (Houston, Texas, USA) acquired Stuart Steel Protection with the intent of strategically growing the business to serve the energy industry’s maintenance, repair, operational, and project needs.
“The asset acquisition of Northwestern Cathodic aligns perfectly with the growth strategy that we have established for Stuart Steel Protection to expand the business geographically, grow our products offerings, and grow our employee base,” says Trinity Dawson, president and CEO of IUS.
“We are truly excited about the opportunity this move affords us to further improve the value proposition to our existing customers, as well as how it strengthens our position to build relationships with new customers in multiple industry sub-sectors,” Dawson adds.
With locations in the U.S. states of New Jersey and Georgia, Stuart Steel Protection describes itself as a leading manufacturer, packager, and master distributor of corrosion control products. The acquisition, which is expected to close in November 2023, will expand SSP’s locations to Colorado and South Carolina while doubling the company’s workforce and adding significant capacity to serve customers.
Chris Moore, founder and president of Northwestern Cathodic, will join Stuart Steel Protection as its chief strategy officer. “I’m extremely proud of what the NWCAT family has accomplished over the last seven years, and I have no doubt that we have partnered with the right team to take what we’ve built to the next level,” he says.
Sources: IUS, www.iuscompanies.com; SSP, www.stuartsteel.com.