Eldeco Adds Fabrication Division
Eldeco Inc. announced today it has executed a definitive asset purchasing agreement for the Industrial Piping Inc. (IPI) facility in Richburg, S.C. Unifying the business under one name, the new fabrication division will be named Eldeco Pipe and Fabrication, LLC (EPF).
Eldeco’s acquisition of IPI’s fabrication assets in Richburg enable Eldeco to broaden its diversity and supply the market for module and pipe fabrication demands. The 90,000-square-foot Richburg facility has 45 employees, all of whom have been offered positions with EPF. Mr. Scott Rice will continue as the general manager for EPF.
“We are in the best position to offer state-of-the-art metal processing because of Eldeco,” Rice said. “Eldeco has a history of well-designed, well-executed strategic action plans. With a seasoned workforce here in Richburg, EPF is positioned to gain significant market share in the metal fabrication and modular sector.”
The acquisition gives Eldeco its fifth office with other locations in Birmingham, Ala., Charlotte, N.C., Charleston, S.C., and its headquarters in Greenville, S.C.
“Eldeco has high standards, and we will bring high-touch, exceptional client service to customers in need of modular and pipe fabrication, with safety and quality at the forefront,” said Allen McKinney, president of Eldeco.
Financial terms were not disclosed. Eldeco is working to ensure a seamless transition with customers and clients.