Dresner Partners Advised Roscoe Steel & Culvert in its Sale to The Rommesmo Companies
|Thursday, September 22, 2011|
FOR IMMEDIATE RELEASE
DRESNER PARTNERS ADVISED ROSCOE STEEL & CULVERT
IN ITS SALE TO THE ROMMESMO COMPANIES
CHICAGO – September 19, 2011 – Dresner Partners, a leading FINRA-registered, middle-market investment bank and IMAP member firm, announced today that it advised Billings, Montana-based Roscoe Steel & Culvert Co. in its sale to Fargo, North Dakota-based The Rommesmo Companies, Inc. Terms of the transaction were not disclosed.
Commenting on the transaction, Steven Dresner, president of Dresner Partners’ said, “We are pleased to have been associated with the owners and management of both Roscoe Steel & Culvert and The Rommesmo Companies. The operations of Roscoe and Rommesmo are highly complementary and we believe this transaction represents a terrific outcome for both companies.”
For more than 58 years, Roscoe Steel & Culvert has been a leading manufacturer, fabricator and distributor of a wide range of infrastructure‐related products. The company maintains a diverse suite of comprehensive solutions for water management and soil conservation, and has demonstrated expertise in complex structural fabrication for highway and rail bridges, and industrial and building construction and development. Roscoe also acts as a distributor for several premium quality product lines.
The Rommesmo Companies designs reliable steel products and structures that customers can count on to always be on time and delivered to the highest quality standards. For more than 65 years, the company has served the agricultural, construction, mining, road building, energy and dozens of other industries, providing structural steel, tanks, corrugated pipe, bridges and logistics services. Through the acquisition, The Rommesmo Companies adds Roscoe’s expertise, capacity and products to its structural steel, tanks and corrugated pipe product lines, as well as Roscoe’s respected line of pre-fabricated and pre-engineered steel bridges. The combined company will also offer customers increased fabricating capacity and an expanded geographic footprint including production facilities in Billings, Mont., Missoula, Mont., and Casper, Wyo. to go with its existing facilities in Fargo, N.D., Blaine, Minn., Mandan, N.D., Huron, S.D., Rapid City, S.D., and Gillette, Wyo.
Roscoe’s CEO, Jim Roscoe, will be retiring from the company which will now be led by Ole Rommesmo, Jr., CEO of Rommesmo, and Dan Kadrmas, President of Rommesmo. Bill Lundberg, formerly President and COO of Roscoe Steel and Culvert, will continue as President and COO of the newly acquired company.
“I am extremely pleased with the outcome of the sale to The Rommesmo Companies,” said Jim Roscoe. “We desired a synergistic transaction with a firm that shared our core values. The Dresner team of Omar Diaz, Gian Ricco and Pasha Kopelyan did an outstanding job in finding a partner that met our requirements.”
Ole Rommesmo Jr. added, “We are looking forward to integrating Roscoe’s employees and capabilities into our operation. Our similar philosophies and combined strength will enhance our ability to meet customer needs while giving our company a strong competitive advantage.”
About Dresner Partners
Dresner Partners is a FINRA-registered, middle-market investment bank headquartered in Chicago, Illinois. Founded in 1991, Dresner Partners provides financial advisory services to business owners and managers throughout the world, including institutional private placements of debt and equity, merger and acquisitions, valuations and strategic consulting services. Dresner Partners is also a member of IMAP, an exclusive global organization of leading merger and acquisition advisory firms. Its affiliate company, Dresner Corporate Services, is a strategic communications firm specializing in public and investor relations. More information is available at www.dresnerpartners.com or www.imap.com/locations/office.cfm?OfficeID=416.
For Media Inquiries:
Stephen Mullin, Director of Information & Marketing, Dresner Partners, (312)780-7213, email@example.com
For Transaction Related Inquiries:
Omar Diaz, Managing Director, Dresner Partners, (312)780-7221, firstname.lastname@example.org