Veritas Steel acquires certain PDM Bridge assets
Posted: November 15, 2013
Chicago,IL-based Veritas Steel, LLC, a newly-formed company of Atlas Holdings, an industrial holding company headquartered in Greenwich,CT, has purchased certain assets of PDM Bridge, LLC, 2800 Melby Rd., Eau Claire, effective Nov. 6, 2013. The acquisition includes PDM locations in Wausau,WI, and Palatka,FL. Terms of the deal were not disclosed.
"We are pleased to announce the formation of Veritas Steel,LLC, the purchase of certain assets of PDM Bridge and the addition of the Atlas family of three quality workforces in great communities. Veritas will build on PDM Bridge's historical success and reputation, while adding Atlas' operating and financial expertise. With three strategically located plants, a highly-skilled workforce, and expanded bonding capability, Veritas will have the capability to more competitively bid on the most complex projects," said Atlas Holdings Managing Partner Tim Fazio, who added that all employees at the Eau Claire plant have been offered positions with Veritas Steel. However, the newly-formed entity will operate out of Chicago.
The United Steelworkers (USW) labor union lauded the sale through a written statement from Michael Bolton, the director of USW District 2, which includes the states of Michigan and Wisconsin.
"This acquisition is a win-win for both the USW and for the future of the steel fabrication industry. We are excited to work with a company like Veritas. This company has already demonstrated a strong commitment to its workforce by ensuring that this transaction will protect American jobs," said Bolton.
Veritas Steel, LLC, is a steel fabricator capable of producing steel components for the largest and most complex bridge structures. The Veritas Steel fabricating facilities are equipped with state-of-the-art CNC equipment and modern paint facilities capable of applying full shop paint systems, which the bridge industry has come to expect.
Atlas Holdings, LLC, is an industrial holding company headquartered in Greenwich,CT, that employs approximately 10,000 people at more than 90 facilities worldwide. Atlas operates in a number of industrial sectors, including building materials, energy, packaging, wood products and capital equipment.
PDM Bridge,LLC, manufactures fabricated structural steel components for steel building structures and steel bridges. The company also offers consulting engineering support, project management, detailing and engineering, and fabrication services. The company was incorporated in 2006 and was based in Eau Claire. TBL