Argonaut Private Equity has acquired Oklahoma-based Crimson Steel Supply, a rebar fabricator, wire mesh supplier, and highway/roadway structural steel fabricator. No financial terms were disclosed.
TULSA, Okla., Aug. 2, 2021 /PRNewswire/ — Argonaut Private Equity, a Tulsa, Okla.-based private equity fund, announced the acquisition of Oklahoma-based Crimson Steel Supply.
Founded in 2010, Crimson Steel Supply is a full-service rebar fabricator, wire mesh supplier, and highway/roadway structural steel fabricator headquartered in Tulsa, Okla., with additional facilities in Muskogee, Okla. and Oklahoma City, Okla. In addition to its leading presence in the Oklahoma market, Crimson Steel supports and ships to a broad base of customers nationwide.
“Partnering with Crimson Steel is a natural for Argonaut because, like us, they believe relationships drive success. We are very excited about the strong supplier relationships Crimson Steel has built over time and look forward to continuing and deepening those relationships,” said Steve Mitchell, Argonaut CEO.
With its long-standing customer base and highly experienced team, Crimson Steel is strategically poised to support America’s accelerating infrastructure push. The founder-led company will continue to build on its reputation for streamlined production and quick turnaround.
“Our company was built on the simple yet strong foundation of mutually beneficial relationships. We are excited that our partnership with Argonaut will allow us to continue to grow with that same mantra within all of our customer, supplier and employee relationships,” said Crimson Steel Supply Founder and CEO, Dustin Wright. “We look forward to a successful relationship and align strongly with Argonaut’s balance sheet discipline to provide long-term, quality solutions for our customers.”
About Crimson Steel Supply
Crimson Steel has been winning over customers with a combination of reliable fabrication and superior service that stems from the company’s Oklahoma roots and can-do culture. It supplies stock and fabricated rebar and wire mesh nationwide for all types of construction projects, as well as fabricating structural steel components for highway and roadway projects. The structural steel items, which include expansion joints, bearing assemblies, handrails, various grates and more, are custom-made for each client’s unique needs. In 2020, Crimson Steel successfully completed the acquisition and integration of Great Plains Rebar in Oklahoma City, Okla. Great Plains Rebar’s management and former owners are actively employed with Crimson Steel.