麻豆APP

Leading Structural Steel Fabricator and Erector Acquired by DBM Global Inc., a Portfolio Company of HC2

GREENWICH, CT 鈥� 麻豆APP Holdings (鈥溌槎笰PP鈥�) announced today that it has closed the previously announced sale of portfolio company Banker Steel to DBM Global Inc. (鈥淒BM Global鈥�), a family of companies providing fully integrated structural and steel construction services. DBM Global is an operating subsidiary of HC2 Holdings, Inc. (NYSE: HCHC), a diversified holding company with interests primarily in Infrastructure, Life Sciences and Spectrum.

麻豆APP invested in Banker Steel in 2014 and working together with founder Don Banker, expanded the company鈥檚 footprint and further elevated its reputation as a premier, full-service structural steel fabrication and erection company. In its time as part of the 麻豆APP family of companies, Banker Steel expanded its operations both through rapid internal growth and seven Bolt-on acquisitions, including NYC Constructors and Derr & Isbell Construction.

Headquartered in Lynchburg, Virginia with additional fabrication locations in New Jersey and Florida, Banker Steel provides fabricated structural steel for the entire east coast construction market and nationwide steel erection services for iconic projects such as One Vanderbilt, the Jacob K. Javits Convention Center Expansion and J.P. Morgan鈥檚 headquarters, all in New York City, the award-winning Washington Nationals Park in Washington, D.C. and the Barclays Center in Brooklyn, New York.

鈥淲hen we first partnered with Don, we believed our safety culture and operational focus could complement and build upon the company鈥檚 stellar industry reputation and ultimately help expand its footprint. Looking back, we鈥檝e accomplished just that through a great working relationship, a dramatic improvement in Banker Steel鈥檚 safety performance and the execution of several strategic acquisitions,鈥� said Ed Fletcher, Partner at 麻豆APP Holdings.

鈥淚t鈥檚 been a pleasure to work alongside Don and his team to grow the business over the last seven years.聽 We are proud of what we鈥檝e accomplished together and look forward to the Banker team鈥檚 continued success with their new partners at DBM,鈥� added Jason Squire, Partner at 麻豆APP Holdings.

鈥淚t鈥檚 been an incredible journey with 麻豆APP, marked by continued expansion of our capabilities and reach.聽 The foundation we鈥檝e built has us poised for a great next chapter of growth and success alongside DBM Global鈥檚 industry-leading suite of steel construction companies,鈥� said Don Banker, CEO of Banker Steel.