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HomeFinanceMEISER AND DUTCO TO EXPAND US PRESENCE THROUGH ACQUISITION OF IKG

MEISER AND DUTCO TO EXPAND US PRESENCE THROUGH ACQUISITION OF IKG

Meiser and Dutco are pleased to announce today that they have signed a definitive agreement to jointly purchase IKG from KPS Capital Partners, LP.

HOUSTON, TEXAS, UNITED STATES, March 14, 2024 /EINPresswire.com/ — Meiser International GmbH (“Meiser”) and Dubai Transport Company LLC (“Dutco”) (together the “Acquirer”) are pleased to announce today that they have signed a definitive agreement to jointly purchase IKG (the “Company”) from KPS Capital Partners, LP. Financial terms of the transaction were not disclosed.

IKG is a leading North American manufacturer and fabricator of metal grating and access infrastructure products. The Company offers a full range of metal bar grating, miscellaneous steel and fencing products, used primarily in industrial flooring, safety, and security applications across a wide range of industries. IKG is headquartered in Houston, Texas, with five strategically located manufacturing facilities across the U.S. and Mexico and has approximately 350 employees globally.

Meiser, based in Germany, is a European leader in the manufacturing of steel gratings and industrial flooring. Dutco is a UAE headquartered conglomerate specialized in trading, manufacturing & logistics, construction, hospitality, energy, and real estate. The acquisition of IKG will significantly expand their presence in North America, building on their longstanding steel grating partnership in the Middle East.

Wolfgang Meiser, Meiser Group Managing Director, stated “this acquisition underlines our commitment to expand our operations into the North American market. IKG’s reputation for excellent products and service mirrors the values and ethos we have at Meiser, making IKG a natural strategic fit. We are pleased to acquire IKG with our trusted partner Dutco, who brings extensive experience of the U.S. market. I am confident that together we will take IKG from strength to strength”.

Nelson Gibb, Dutco Group CEO, added “we are delighted to expand our U.S. presence with the acquisition of IKG. We have been impressed by the IKG team, and their unrelenting focus on serving their customers with best-in-class products and service. This is the Dutco way. We look forward to deepening our strong partnership with Meiser to grow IKG through an enhanced product portfolio which will allow it to better serve the North American market.”

Chad McClendon, IKG CEO, added, “The IKG team is excited about the opportunities this synergetic union will allow us to bring to our customers. With a platform for growth across our product portfolio and markets, I am confident we will provide a value-proposition unmatched in our industry. IKG now being part of a strategically aligned family-owned business will provide even more stability and security for our employees.”

Advisors

The Acquirer’s advisor team comprised Kelley Drye & Warren LLP for legal counsel, Texas Capital Securities as exclusive financial advisor, and Rödl & Partner provided financial due diligence support. Completion of the transaction is subject to customary closing conditions and approvals.

About IKG

IKG, founded in 1902 as Irving Iron Works Co., is the most trusted name in bar grating and anti-slip solutions in the United States. It is a leading manufacturer and fabricator of metal grating and access infrastructure products used primarily in industrial flooring, safety and security applications across a wide range of industries. IKG is headquartered in Houston, Texas and operates across 9 facilities (including 5 manufacturing facilities across the U.S. and Mexico) with 350+employees. IKG continues to diversify and add product lines offering a broad breadth of products with market leading quality, services, and capacity to the markets it serves. www.ikg.com.

About Meiser

Meiser, founded in 1956, is a German family-owned company specializing in the manufacture and supply of high-quality steel and metal products. Meiser is recognized in the industry for providing customized solutions and exceptional customer service in all its business areas. In addition to steel gratings, Meiser supplies road and safety equipment, expanded metal, solar mounting systems, various steel profiles, complete staircases and galvanizing services. Meiser has 20 manufacturing plants in Europe, Middle East, Africa and South America with 3,500 employees.

www.meiser-group.com.

About Dutco

Dutco, founded in 1947, is a UAE headquartered family-owned multinational group. Its focus on innovation and commitment to world class standards has underpinned Dutco’s growth across a number of diverse industries. Today, the group has operations across five key business verticals, comprising (1) trading, manufacturing & logistics, (2) construction, (3) hospitality, (4) energy and (5) real estate. Dutco operates across 8 countries with over 10,000 employees, including existing operations within its energy, real estate and hospitality verticals in the United States. www.dutco.com.

About KPS Capital Partners, LP

KPS Capital Partners, LP, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $21.4 billion of assets under management (as of December 31, 2023). The KPS Funds’ portfolio companies currently generate aggregate annual revenues of approximately $20.4 billion, operate 223 manufacturing facilities in 26 countries, and have approximately 48,000 employees, directly and through joint ventures worldwide (as of September 30, 2023). The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.

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Originally published at https://www.einpresswire.com/article/695661266/meiser-and-dutco-to-expand-us-presence-through-acquisition-of-ikg

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