Nucor Combines Acquisitions to Launch Nucor Warehouse Systems

In August 2021, Nucor purchased Hannibal Industries, a national provider of steel racking solutions headquartered in Los Angeles, for $370 million. In April of this year, Nucor added Elite Storage Solutions, another steel racking manufacturer with locations in Monroe, Ga., and Chandler, Ariz., to its portfolio in a deal worth $75 million.

Nucor Warehouse Solutions combines the two companies, offering everything necessary to build a warehouse from end-to-end and making it the largest pallet rack manufacturer in North America with locations coast-to-coast.

“Nucor Warehouse Systems may be a new name, but we are proud to be the same people that have worked together on well above $1 billion in integration projects built across North America,” said Dave Olmsted, vice president and general manager at Nucor Warehouse Systems. “We believe that by connecting the companies’ material handling expertise with broader Nucor resources, Nucor Warehouse Systems is ready to take on tomorrow’s challenges and truly respond to customer needs.”

The company will use support from other Nucor businesses, including its steelmaking assets and the Nucor Buildings Group.

The $3 billion deal to purchase CHI Overhead Doors, Nucor’s largest transaction to date, closed in June.

In an interview with SMU earlier this year, Nucor president and CEO Leon Topalian said the steelmaker wanted to pivot from being just a steelmaker to being a manufacturing company. These moves will allow it to be a one-stop provider for all steel products needed to build digital warehouses, cold storage facilities, or the large factories that will be needed to make batteries for electric vehicles.

By Laura Miller, Laura@SteelMarketUpdate.com