NEW YORK Dixie-Southern Arkansas LLC has retained Heritage Equity Partners to help seek a buyer, investor or joint-venture partner for its Springdale, Ark., operation.
"The strategic direction of the company has changed. They feel like its a good location to fulfill orders in the Midwest, the West and the Southwest (but) its too much to handle right now," Matt LoCascio, managing director at the Easton, Md.-based investment banking firm, told AMM.
"Ownership has decided to divest the Arkansas facility and primarily focus on its current operations in Florida, but would support a new operator by sourcing projects in the Midwest, Southwest and all western locations better fulfilled from this facility," LoCascio said.
Bradenton, Fla.-based Dixie-Southern, doing business as Triple S&P Inc., expanded into Arkansas in 2011 (amm.com, Sept. 1, 2011).
"This is an excellent opportunity to acquire a dedicated and experienced work force in place, excess capacity, at a premium location," LoCascio said.
The Arkansas plant, which operates out of two leased facilities on 50,000 square feet, fabricates industrial process components with a variety of metals and alloys, including carbon steel, stainless steel, aluminum and nickel alloys. It also provides a full range of coatings, linings, painting and testing.
The operation produces vessels, tanks, large-diameter pipe, exhaust stacks and other industrial mechanical components.