Houston, Texas – April 24, 2008– Spitzer Industries, Inc. (“Spitzer”) today announced the completion of its acquisition of Orizon Industries, Inc. (“Orizon”), a company based west of Houston specializing in heavy industrial steel fabrication. The acquisition is the next step in accelerating Spitzer’s growth and further improving its fabrication capabilities.
Founded in 1988, Orizon ranks in the top tier of heavy industrial fabricators and has a long-term track record of providing quality work to a blue-chip customer base. With Spitzer’s recent addition of premium waterfront facility on the Houston Ship Channel on Greens Bayou, and the acquisition of Orizon’s facility in Brookshire, it has added over 450,000 square feet of fabrication space, more than quadrupling its capacity. As reported in December of 2007, access to the Greens Bayou location was obtained in conjunction with the acquisition of another well-established custom designer and fabricator, Curtis Kelly, Inc.
“I am very excited to join Orizon with Spitzer Industries. The integrity and reputation of both companies is a perfect match,” said Curtis Jones, President of Orizon Industries, Inc. “The combined experience and facilities will greatly enhance our ability to service our clients. I believe modularization is the wave of the future in the industries we serve. The joining of the Greens Bayou facility and the Orizon facility puts the combined companies at the forefront of our industry in providing this type of turnkey fabrication.”
“We are excited about our acquisition of Orizon as well as the partnership with Curtis and his group,” said Cullen Spitzer, founder and CEO of Spitzer Industries, Inc. “I have known Curtis for twenty years and witnessed the growth of Orizon in both size and reputation while becoming a leader in the structural fabrication business. We believe that the partnership with Spitzer will allow the combined entity to better serve the robust environment in the oil and gas, petrochemical and refining segments.”
About Spitzer Industries, Inc.
Spitzer is a custom fabricator and packager of equipment and systems, specializing in engineered process and production skid packages, ASME pressure vessels, and other custom weldments. Spitzer specializes in engineered process and production skid packages, ASME VIII, Div. 1 and Div. 2 Pressure Vessels [“U” & “R” Stamps], and specialty structural weldments. Spitzer Industries has the in-house capabilities to provide engineering, design, drafting, quality control and procurement to accommodate any project from start to finish.
About Orizon Industries, Inc.
Orizon is a market leader in providing fabricated miscellaneous and structural steel for the petrochemical industry, refineries, power plants and exploration industries. Orizon also provides mooring and dock fabrication, skid units for gas compression, fire, water, electric generation and chemical processing. With over a 250,000 square feet state-of-the-art facility and experienced personnel working two shifts daily, its operation is designed to maximize efficiency in providing quality fabrication with a quick turnaround time to meet customer’s demands around the world.
About The Stephens Group, LLC
The Stephens Group through its affiliates is a majority owner of Spitzer Industries, Inc. This private, family-owned firm invests its capital in private companies with exceptional management teams and high returns on invested capital in growing industries. The principals of The Stephens Group have over 70 years of history in successfully investing in both minority and control positions across multiple industries. The Stephens Group, through its affiliates, has large positions in energy services, gas exploration and production, media, communications, consumer, manufacturing and other industries. The Stephens Group typically provides equity capital of $10 million to $75 million dollars per transaction and looks to invest $100-$200 million per year.
- Ronald M. Clark
- General Counsel
- The Stephens Group, LLC