M&A Deal Summary

DBM Acquires Banker Steel

On May 27, 2021, DBM acquired construction company Banker Steel from Atlas Holdings and Turnspire Capital Partners

Acquisition Highlights
  • This is DBM’s 1st transaction in the Construction sector.
  • This is DBM’s 3rd transaction in the United States.
  • This is DBM’s 1st transaction in Virginia.

M&A Deal Summary

Date 2021-05-27
Target Banker Steel
Sector Construction
Buyer(s) DBM
Sellers(s) Atlas Holdings
Turnspire Capital Partners
Deal Type Divestiture

Target

Banker Steel

Lynchburg, Virginia, United States
Headquartered in Lynchburg, Virginia with additional fabrication locations in New Jersey and Florida, Banker Steel provides fabricated structural steel for the entire east coast construction market and nationwide steel erection services for iconic projects such as One Vanderbilt, the Jacob K. Javits Convention Center Expansion and J.P. Morgan’s headquarters, all in New York City, the award-winning Washington Nationals Park in Washington, D.C. and the Barclays Center in Brooklyn, New York.

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Buyer(S) 1

Buyer

DBM

Phoenix, Arizona, United States

Category Company
Founded 2001
Sector Construction
Employees1,300
Revenue 736M USD (2007)
DESCRIPTION

DBM is focused on delivering world class, sustainable value to its clients through a highly collaborative portfolio of companies which provide better designs, more efficient construction and superior asset management solutions. The Company offers integrated steel construction services from a single source and professional services which include design-assist, design-build, engineering, detailing, BIM co-ordination, steel modeling/detailing, fabrication, rebar detailing, advanced field erection, project management, and state-of-the-art steel management systems. Major market segments include commercial, healthcare, convention centers, stadiums, gaming and hospitality, mixed use and retail, industrial, public works, bridges, transportation, and international projects. When the transactions have been completed, the Company, which is headquartered in Phoenix, Arizona, will have operations in United States, Australia, Canada, India, New Zealand, Philippines, Singapore, Thailand and the United Kingdom. DBM was founded in 1976 and is headquartered in Phoenix, Arizona.


DEAL STATS #
Overall 3 of 3
Sector (Construction) 1 of 1
Type (Divestiture) 1 of 1
State (Virginia) 1 of 1
Country (United States) 3 of 3
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-11 GrayWolf Industrial

Owensboro, Kentucky, United States

GrayWolf is a specialized mechanical contractor focused on the power, refinery and heavy industrial markets. The company offers fully outsourced and on-call maintenance services as well as installation services for environmental compliance projects, plant extensions, upgrades and new builds. GrayWolf’s customer base includes plant operators, industrial contractors and original equipment manufacturers.

Buy $135M

Seller(S) 2

SELLER

Atlas Holdings

Greenwich, Connecticut, United States

Category Private Equity Firm
Founded 2002
Size Large
Type Sector Agnostic
DESCRIPTION

Atlas Holdings is a private equity and investment holding firm focused on acquiring controlling interests in businesses operating in traditional, basic industries. Areas of interest include automotive, business services, industrial services, building materials, pulp and paper, distribution, energy, packaging, specialty steel and wood products. The Firm will participate in bankruptcy investments, highly structured equity and debt investments, leveraged ESOP acquisitions, out-of-court restructurings, and roll-ups. Atlas typically partners with private and institutional investors and structures one investment at a time. Atlas Holdings was established in 2002 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 9 of 12
Sector (Construction) 2 of 2
Type (Divestiture) 1 of 1
State (Virginia) 1 of 1
Country (United States) 8 of 11
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-01 Merchants Metals

Atlanta, Georgia, United States

Merchants Metals manufactures chain link and ornamental steel fences and fittings at five manufacturing facilities in Houston, Texas; Statesville, North Carolina; Harrison, Arkansas; New Paris, Indiana; and Mexicali, CP, Mexico.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-07 Foster Farms

Livingston, California, United States

Foster Farms is a family-owned provider of fresh, frozen, and prepared poultry products. Foster Farms operates major processing facilities in California, Washington, Louisiana, Oregon, and Alabama. Foster Farms was founded in 1939 and is based in Livingston, California.

Buy -
DESCRIPTION

Turnspire Capital Partners is a private investment firm focused on acquiring North American companies that have reached 'strategic, operational, or financial inflection points' with their business and could benefit from a hands-on investor. Turnspire will consider a variety of transaction situations, including special situations, corporate carve-outs, and family transitions. Sectors of interest include aerospace/defense, automotive, machinery, chemicals, consumer, building materials, food/beverages, logistics, metals, packaging, and plastics. Prospective companies generally have revenues of $50 to $400 million. Turnspire Capital Partners was formed in 2013 and is based in New York City.


DEAL STATS #
Overall 3 of 4
Sector (Construction) 1 of 1
Type (Divestiture) 1 of 1
State (Virginia) 1 of 1
Country (United States) 3 of 4
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-24 Crane Carrier

New Philadelphia, Ohio, United States

Crane Carrier is a provider in the vocational truck industry, providing custom, severe-service chassis, and purpose-built vehicles for the refuse and recycling, infrastructure maintenance, ground support, agriculture, and oil and gas markets under the Crane Carrier Company and Crane Carrier Company Engineered Chassis brands. Crane Carrier was founded in 1953 and is based in New Philadelphia, Ohio.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-12 Daniel Measurement & Control

Houston, Texas, United States

Daniel Measurement & Control provides flow and energy measurement technologies and services to the natural gas and refined hydrocarbon industries. Daniel is based in Houston, Texas.

Buy -