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M&A Deal Summary

Race Rock Acquires Spitzer Industries

On October 8, 2025, Race Rock acquired metals/mining company Spitzer Industries from The Stephens Group

Acquisition Highlights
  • This is Race Rock’s 1st transaction in the Metals/Mining sector.
  • This is Race Rock’s 1st transaction in the United States.
  • This is Race Rock’s 1st transaction in Texas.

M&A Deal Summary
Date 2025-10-08
Target Spitzer Industries
Sector Metals/Mining
Buyer(s) Race Rock
Sellers(s) The Stephens Group
Deal Type Add-on Acquisition
Advisor(s) Jefferies (Financial)
Jones Day (Legal)

Target

Spitzer Industries

Houston, Texas, United States
Spitzer Industries is a custom fabricator of diversified products for various segments of the energy industry. Spitzer custom fabricator of specialized equipment and systems, pressure vessels and other custom weldments. Spitzer is a turn-key solution provider to its customers, providing a broad range of services including project management, engineering, design and procurement services. Spitzer Industries was founded in 1996 and is based in Houston, Texas.

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Buyer(S) 1

Buyer

Race Rock

Houston, Texas, United States
Category Company
Sector Infrastructure
DESCRIPTION

Race Rock is a privately owned fabricator and distributor of a wide portfolio of steel infrastructure products serving customers in a variety of end markets and geographies. It specializes in engineered solutions in the utility industry (steel transmission/distribution poles and substation structures, solar panel support structures), highway industry (highway lighting poles and lowering devices, overhead sign structures, guardrail systems, and crash attenuators), and telecommunications industry (cellular poles/towers). Race Rock is based in Houston, Texas.

DEAL STATS #
Overall 1 of 1
Sector: Metals/Mining M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Texas M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2025 M&A 1 of 1

Seller(S) 1

SELLER

The Stephens Group

Little Rock, Arkansas, United States

Investor Investor Investor Investor Investor

Category Family Office
Founded 1933
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Stephens Group is a private investment firm focused on long-term investments in mid-sized companies. The Firm looks to partner with management teams when pursuing acquisitions. Sectors of interest include energy, energy services, business services, industrials, consumer products, consumer services, financial services, healthcare, technology, media, and communications. The Stephens Group was originally established in 1933 and is headquartered in Little Rock, Arkansas.

DEAL STATS #
Overall 30 of 30
Sector: Metals/Mining M&A 1 of 1
Type: Add-on Acquisition M&A Deals 13 of 13
State: Texas M&A 12 of 12
Country: United States M&A 27 of 27
Year: 2025 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-02-05 Astro Pak

Costa Mesa, California, United States

Astro Pak is a provider of high purity and precision cleaning services, serving critical industries such as pharmaceutical, biotechnology, food & beverage, semiconductor, aerospace & defense, and more. Astro Pak was founded in 1959 and is based in Costa Mesa, California.

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