Scafco Grain Systems Co, a subsidiary of the Stone Group of Companies, has been acquired by grain bin and livestock equipment manufacturer, Sioux Steel Co.
Stone Group of Companies president Larry Stone the sale of Scafco Grain Systems Co to Sioux Steel Co of Sioux Falls, South Dakota, USA.
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Scafco Grain Systems Co has been acquired by Sioux Steel Co. |
"The Sioux Steel Company is an excellent manufacturer with over 100 years of experience," says Mr Stone in a statement. 'I'm thrilled the Sioux Steel Company is retaining all of our current Scafco Grain Systems Company employees and is also keeping the business in Spokane.
Founded in 1961, Scafco Grain Systems is headquartered at 5400 E. Broadway Ave. in Spokane Valley, manufactures grain bins, structures, handling equipment, drying technology and accessories. It was the only subsidiary of the Stone Group of Companies included in the sale.
The Stone Group of Companies has more than 400 employees and businesses in California, Florida, Idaho, Montana, Oregon, Nevada and Washington. It includes SCAFCO Steel Stud Co, Steel Construction Systems, CWallA, Kern Building Materials, LB Stone Properties Group and Playfair Commerce Park.
Sioux Steel Co, founded in 1918, is a fourth-generation, family-owned business. The deal was closed on March 1, 2022 with no additional financial details being disclosed.
The addition of Scafco Grain Systems Company will elevate our business and I'm excited to welcome all the great Scafco Grain Systems Company employees to our family and to acquire such an impressive facility,' somments Scott Rysdon, president and CEO of Sioux Steel Co.
Between them, Sioux Steel Company and Scafco Grain Systems Co. have more than 164 years of providing real customer service and manufacturing of grain systems, satisfying long-term customers all over the world.
The acquisition provides a natural fit, with both companies having family origin and ownership.
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