M&A Deal Summary

Worthington Industries Acquires Palmer Mfg. and Tank

On April 9, 2013, Worthington Industries acquired machinery company Palmer Mfg. and Tank

Acquisition Highlights
  • This is Worthington Industries’ 4th transaction in the Machinery sector.
  • This is Worthington Industries’ 6th transaction in the United States.
  • This is Worthington Industries’ 1st transaction in Kansas.

M&A Deal Summary
Date 2013-04-09
Target Palmer Mfg. and Tank
Sector Machinery
Buyer(s) Worthington Industries
Deal Type Add-on Acquisition

Target

Palmer Mfg. and Tank

Garden City,, Kansas, United States
website
Palmer Mfg. and Tank Inc. is a manufacturer of steel and fiberglass tanks and processing equipment for the oil and gas industry, and custom manufactured fiberglass tanks for agricultural, chemical and general industrial applications.

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Buyer(S) 1

Buyer

Worthington Industries

Columbus, Ohio, United States

website

Category Company
Founded 1955
Sector Metals/Mining
Employees8,000
Revenue 5.2B USD (2022)
DESCRIPTION
Entrance to Worthington Industries' corporate headquarters in Columbus, Ohio.
Entrance to Worthington Industries' corporate headquarters in Columbus, Ohio.

Worthington Industries is a diversified metal processing company. Worthington is a value-added steel processor and a leader in manufactured metal products such as metal framing, pressure cylinders, automotive past model service stampings, metal ceiling grid systems and laser welded blanks. Worthington Industries was founded 1955 and is based in Columbus, Ohio.

DEAL STATS #
Overall 8 of 22
Sector (Machinery) 4 of 6
Type (Add-on Acquisition) 7 of 15
State (Kansas) 1 of 1
Country (United States) 6 of 19
Year (2013) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-26 Worthington Steel Vonore Tennessee Plant

Tennessee, United States

Worthington Steel Vonore Tennessee Plant comprises a steel processing plant. It intends to process carbon steel, aluminum, and stainless steel products.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-28 Tank Manufacturing Division - Steffes

Dickinson, North Dakota, United States

Steffes manufactures oilfield storage tanks for customers drilling in the Bakken shale and Williston Basin region out of a manufacturing facility.

Buy -
Mergr

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