On Thursday, May 19, Traylor announced that it signed a definitive agreement to purchase fifty percent of Sterling Boiler & Mechanical, Inc., A&D Constructors, Inc., and Onyett Fabricators (“Felker Companies”).
The Felker Companies serve a variety of clients in the power generation, chemical, plastics, aluminum, metal processing, oil refining, and paper processing industries with a service area that includes the entire United States. In addition, the companies provide turn-key fabrication and field services, welding, other structural metal work, and concrete reinforcements.
The agreement calls for Traylor to progress to one hundred percent ownership of the Felker Companies over the next six years.
“We are excited about the opportunities that this agreement creates,” said Chris Traylor, Co-president, Traylor Bros. “The combined resources of both companies will allow for new opportunities through combined financial strength, an expanded network of partners and clients through the positive relationships developed by both companies, synergies in our respective areas of work to provide additional services and technical expertise, and further collaboration through additional equipment, technology and services.”
“The partnership between Traylor and the Felker Companies is a long-term commitment to the health and well-being of both companies,” said Dan Felker, President and Chief Executive Officer, the Felker Companies.
Both companies will continue to operate under their current leadership A joint strategic integration team will be created to begin the process of evaluating the combined business opportunities, operating structures, and internal processes.
About the Felker Companies
The Felker Companies began and grew from a need for swift, reliable service for utilities in southern Indiana. Dan Felker, an experienced boilermaker, founded Sterling Boiler & Mechanical 1982 to meet these needs, focusing primarily on small emergency repairs. Over 25 years later, the Felker Companies serve a variety of clients in the power generation, chemical, plastics, aluminum, metal processing, oil refining, and paper processing industries with a service area that includes the entire United States. Sterling Boiler continues to be ranked in the top 100 in the Engineering News-Record Periodical Top 600 Specialty Contractors. Over time, the companies expanded their services to include turn-key fabrication and field services, welding, other structural metal work, and concrete reinforcements. The companies have experience in the fabrication and installation of all construction materials including Hastelloy, carbon steel, structural steel, titanium, and aluminum. Sterling focuses on providing quality and timely service performed in a safe manner, building long-term customer relationships, and continuous improvement.