Service Centers
Nucor Acquires Steel Racking Manufacturer Elite Storage Solutions
Written by Brett Linton
April 5, 2022
Nucor announced today that it has acquired Elite Storage Solutions, a steel racking manufacturer employing 180 full-time teammates at locations in Monroe, Ga., and Chandler, Ariz.
This $75 million acquisition expands Nucor’s steel racking capabilities and builds on the company’s acquisition of Hannibal Industries last year
“We are excited to grow our steel racking capabilities with this acquisition of Elite Storage Solutions. Establishing a manufacturing presence in the southeast complements our existing steel racking business and allows us to serve our racking customers nationwide more efficiently,” said Giff Daughtridge, President of Sheet and Tubular Products. “Elite was founded and operated by the South family since the early 1980s and in partnership with the Stein family, owners of Triple-S Steel, since 2017. This acquisition provides a growth platform for the Elite team as well as for Nucor.”
The acquisition gives Nucor access to new customers and will provide logistical advantages in serving existing customers. Nucor’s existing steel racking business, Hannibal Industries, was acquired in July 2021 and has facilities in southern California and Texas.
Additional details can be found on the Nucor website here.
By Brett Linton, Brett@SteelMarketUpdate.com
Brett Linton
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