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Synalloy closes $25.6-million Palmer of Texas acquisition

Keywords: Tags  Synalloy Corp., Palmer of Texas, mergers, acquisitions, M&A, fiberglass, steel, tanks oil


CHICAGO — Synalloy Corp. has completed its $25.6-million acquisition of Palmer of Texas.

Spartanburg, S.C.-based Synalloy, which produces stainless steel pipe and fabricates stainless and carbon steel piping systems, said Thursday that the deal, announced earlier this month ( amm.com, Aug. 13), closed Aug. 21.

Andrews, Texas-based Palmer employs 137 people and generated $32 million in revenue in the year ended May 31, Synalloy said. In recent years, it has focused on making fiberglass and steel tanks for the oil industry, the company said ( amm.com, Aug. 13).

Palmer’s main facility in Andrews is located in the Permian Basin, a traditional drilling area, and serves the liquid-rich Eagle Ford and Barnett shales, as well as the Anadarko Basin, Synalloy said. Palmer also operates a temporary facility in Orange, Texas (amm.com, Aug. 13).


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