P&M Corporate Finance, LLC Announces the Acquisition of Virginia Galvanizing Corporation by South Atlantic Galvanizing, LLC
Southfield, MI — P&M Corporate Finance, LLC ("PMCF") served as exclusive financial advisor to B E Wedge Holdings Ltd ("Wedge") and South Atlantic Galvanizing, LLC ("South Atlantic"), in the acquisition of Virginia Galvanizing Corporation ("VGC"). Headquartered in Wilmington, North Carolina, South Atlantic provides metal galvanizing services to a broad range of industrial customers.
PMCF’s Industrials team worked closely with Wedge and South Atlantic to value VGC, assess the synergies between the two companies and negotiate the transaction. The acquisition of VGC expands the geographic footprint of South Atlantic’s operations, adding a well-run galvanizing facility. The acquisition also facilitates more efficient utilization of combined galvanizing capacity while supporting continued growth in volume.
About South Atlantic Galvanizing, LLC
South Atlantic is one of the largest galvanizers in the mid-South region of the United States. The Company provides galvanized products and services to its customers, including the galvanization of iron, steel or end-formed products. The Company’s growth has been driven by its market reputation for high responsiveness to customer needs and quality. Organic growth, acquisitions and a strong capital improvement program support the Company’s market leading position. South Atlantic is based in Wilmington, North Carolina and has five manufacturing locations in the southern United States.
South Atlantic is a subsidiary of B E Wedge Holdings Ltd, one of the largest suppliers of galvanizing services in Europe, with operations in the United States, United Kingdom, Germany, and Italy. P&M Corporate Finance previously advised Wedge on its equity investments in South Atlantic in January 2000 and July 2003.
About Virginia Galvanizing
Virginia Galvanizing Corporation provides high quality galvanizing services. The Company is a hot-dip galvanizer of products supplied by a variety of customers, primarily located in the Mid-Atlantic region. Products galvanized include castings, rebar, and steel beams. Virginia Galvanizing Corporation was organized in 1995 and is based in Ashland, Virginia.