Wells Concrete, the fifth largest precaster in the U.S., has acquired Waukesha, Wis., based precaster, and machinery manufacturer, Spancrete. With more than 125 years of combined experience in the industry, the partnership aligns two companies dedicated to precast innovation.
“The acquisition of Spancrete by The Wells Companies is a tremendous milestone for both the seller and the buyer representing the consolidation of two family-owned businesses. The Nagy family built an extremely innovative company in Spancrete and achieved tremendous success. From its very first days Spancrete gave life to a new industry and experienced positive growth all the way to its present-day form as a mature, developed company,” said Sam Nesius, Chairman, Wells Concrete. “The Nesius family is honored to be considered worthy stewards of the Nagy family legacy. It is no surprise that our company values are very compatible and our approach to the marketplace, our customers, and our employees is nearly identical.”
Wells will continue the success Spancrete has achieved in both precast solutions and machinery equipment production, focusing efforts on growing the business for greater market penetration.
“Wells has operated alongside Spancrete for over 60 years and admired their dedication to being innovators in the industry – both as a precast and equipment manufacturer,” said Dan Juntunen, CEO, Wells Concrete. “By combining our efforts, we look forward to continuing that tradition and advancing our precast building solutions to provide the best possible products and experience to our customers.”
With this acquisition, Wells’ footprint will stretch from Canada to New Mexico, and Colorado to Indiana. Spancrete’s precast plants in Valders, Wis., Crystal Lake, Ill., and Sebring, Fla., as well as their machinery division in Waukesha, Wis., will all remain in operation.
“Spancrete has been in my family for 75 years and I’m proud to become a part of a company that exemplifies our core values – quality, service and durability,” said John Nagy, CEO, Spancrete. “Because of our similar cultures and philosophies in how we approach business, our employees and customers, we are positioned for future success.”