M&A Deal Summary

Worthington Enterprises Acquires Palmer Mfg. and Tank

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

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

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

Target

Palmer Mfg. and Tank

Garden City,, Kansas, United States
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 Enterprises

Columbus, Ohio, United States
Category Company
Founded 1955
Sector Metals/Mining
Employees4,000
Revenue 4.9B USD (2023)
DESCRIPTION
Entrance to Worthington Industries' corporate headquarters in Columbus, Ohio.
Entrance to Worthington Industries' corporate headquarters in Columbus, Ohio.

Worthington Enterprises 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 Enterprises was founded in 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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