Minnesota-based precast supplier Wells Concrete has acquired Spancrete, of Waukesha, the companies announced on Monday.
Wells Concrete, which is the fifth-largest pre-casting company in the U.S., designs, manufactures and installs structural and architectural precast products.
The company has three precast plants in Minnesota and another in Denver, Colorado, and will now have Spancrete sites in Valders; Crystal Lake, Illinois; and Sebring, Florida. Wells, in a news release, said Spancrete’s precast plants and its machinery division in Waukesha will remain open.
Wells and Spancrete are each closely held family-owned businesses that have operated alongside each other for 60 years. The terms of the deal were not disclosed.
“From its very first days Spancrete gave life to a new industry and experienced positive growth all the way to its present-day form as a mature, developed company,” said Sam Nesius, chairman of Wells Concrete, in a statement. “The Nesius family is honored to be considered worthy stewards of the Nagy family legacy. It is no surprise that our company values are very compatible and our approach to the marketplace, our customers, and our employees is nearly identical.”