CST Industries, Inc. Announces Acquisition Of Weaver Reclaimer Technology
CST Industries, Inc. (CST), the global leader in the design, manufacture, and installation of storage tanks and covers, has acquired certain assets of Weaver Silos & Reclaimers, Inc. Located in Myerstown, Pennsylvania, Weaver has been a recognized leader in reclaimer and unloader systems for more than 40 years. Weaver Reclaimer Systems are some of the most rugged, versatile and dependable systems available today for bottom removal of all types of materials. The unique and proprietary technology utilized in Weaver Reclaimer Systems makes it a clear choice for engineering and manufacturing professionals in thousands of different applications.
"Acquiring Weaver Reclaimer Technology positions CST as the complete system provider to our customers needing the best storage and material handling solution for their varied applications. We will offer a complete engineered material handling system whether they process wood chips for biomass operations, dry distiller's grains from ethanol production or various bulk chemicals that require precision reclaimer systems." said Brian Bauerbach, President and CEO of CST. "The combination of CST's storage and cover solutions and the Weaver Technology provides customers worldwide with a complete product line designed specifically for them." Weaver Reclaimer Systems are available for all types of storage tanks and silos as well as dry bulk domes and other cover structures.
CST is the world's largest provider of modular, bolted storage tanks and custom aluminum domes and covers. CST manufactures the leading coating technologies in the industry providing both glass-fused-to-steel porcelain enamel and a proprietary cured epoxy system. The addition of Weaver Reclaimer Technology to CST's portfolio creates a turn-key storage and material handling solution that can be delivered throughout CST's global network.
Richard Weaver commented, "I am very excited for the Weaver Reclaimer Technology to become a part of CST Industries, Inc. Their leadership and expansive distribution in the storage solutions industry will enable Weaver Reclaimer Systems to reach customers anywhere in the world."
About CST Industries, Inc.:
CST Industries, Inc., headquartered in Lenexa, Kansas, is the global leader in the manufacture and erection of factory coated metal storage tanks, aluminum domes and specialty covers. CST's existing company portfolio consists of Columbian TecTank, Engineered Storage Products, TemcorConservatek and CST Vulcan, Inc. Manufacturing facilities and technical design centers are located in Parsons, Kansas; Winchester, Tennessee; DeKalb, Illinois; Conroe, Texas; Gardena, California; Rincon, Georgia and the United Kingdom. Regional sales offices are located throughout North America and in Mexico, Argentina, United Kingdom, Dubai, Singapore and Vietnam.
About The Sterling Group, L.P.
Founded in 1982, The Sterling Group is a private equity investment firm that targets controlling interests in basic manufacturing, industrial services and distribution companies. Typical enterprise values of these companies range from $100M to $500M. Sterling has sponsored the buyout of 38 platform companies and numerous add-on acquisitions for a total transaction value greater than $8.6B. Currently, Sterling has $1.3B of committed capital under management through three funds, including Sterling Group Partners III, L.P. Current portfolio companies include North American Energy Partners Inc., CST Industries, Inc., Roofing Supply Group, LLC, Universal Fiber Systems, LLC, Velcon Filters, LLC, B&G Crane Services, LLC and Express, LLC.
SOURCE: CST Industries, Inc.