Atlas Holdings completes sale of Banker Steel

Atlas invested in Banker Steel in 2014 and has since executed seven add-on acquisitions.

Atlas Holdings has completed its sale of Banker Steel to DBM Global, a subsidiary of HC2 Holdings. 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.

GREENWICH, CT — Atlas Holdings (“Atlas”) announced today that it has closed the previously announced sale of portfolio company Banker Steel to DBM Global Inc. (“DBM Global”), a family of companies providing fully integrated structural and steel construction services. DBM Global is an operating subsidiary of HC2 Holdings, Inc. (NYSE: HCHC), a diversified holding company with interests primarily in Infrastructure, Life Sciences and Spectrum.

Atlas invested in Banker Steel in 2014 and working together with founder Don Banker, expanded the company’s footprint and further elevated its reputation as a premier, full-service structural steel fabrication and erection company. In its time as part of the Atlas family of companies, Banker Steel expanded its operations both through rapid internal growth and seven Bolt-on acquisitions, including NYC Constructors and Derr & Isbell Construction.

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.

“When we first partnered with Don, we believed our safety culture and operational focus could complement and build upon the company’s stellar industry reputation and ultimately help expand its footprint. Looking back, we’ve accomplished just that through a great working relationship, a dramatic improvement in Banker Steel’s safety performance and the execution of several strategic acquisitions,” said Ed Fletcher, Partner at Atlas Holdings.

“It’s been a pleasure to work alongside Don and his team to grow the business over the last seven years.  We are proud of what we’ve accomplished together and look forward to the Banker team’s continued success with their new partners at DBM,” added Jason Squire, Partner at Atlas Holdings.

“It’s been an incredible journey with Atlas, marked by continued expansion of our capabilities and reach.  The foundation we’ve built has us poised for a great next chapter of growth and success alongside DBM Global’s industry-leading suite of steel construction companies,” said Don Banker, CEO of Banker Steel.

About Atlas Holdings

Headquartered in Greenwich, Connecticut and founded in 2002, Atlas and its affiliates own and operate 23 platform companies which employ approximately 40,000 associates across more than 250 facilities worldwide. Atlas operates in sectors such as aluminum processing, automotive, building materials, capital equipment, construction services, food manufacturing and distribution, packaging, paper, power generation, printing, pulp, supply chain management and wood products. Atlas’ companies together generate approximately $10 billion in revenues annually.