GREENWICH, Conn., Jan. 3, 201. Black Diamond Capital Management, L.L.C. ("Black Diamond") announced today that it has acquired Valley Joist from EBSCO Industries, Inc. ("EBSCO").
Valley Joist has been a leading joist and deck manufacturer since 1958 with the ability to service both local and national accounts. Its facilities span almost 30 acres and 250,000 square feet while employing close to 200 employees across both locations.
"We are pleased to be acquiring Valley Joist and working with the company to grow their presence in the joist and deck industry," said Stephen H. Deckoff, Founder and Managing Principal of Black Diamond. "The acquisition of Valley Joist is in line with our strategy to acquire complementary downstream businesses that can benefit from being affiliated with our portfolio of steel production businesses."
"We are thankful to the Valley Joist teams who contributed to EBSCO for over forty years," said Rob Belcher, EBSCO's Group President of Manufacturing. "We are confident this partnership with Black Diamond will strengthen Valley Joist and appreciate Back Diamond's commitment to the future growth and success of this business."
Black Diamond owns and operates Bayou Steel Group, among other steel related businesses.
Bayou Steel Group operations are primarily located outside of New Orleans with an additional rolling mill in Harriman, TN and three strategically located stocking depots in Tulsa, OK, Chicago, IL and Pittsburgh, PA. The LaPlace and Harriman facilities are leading producers of light structural shapes and merchant bar quality products.
The transaction closed on December 29, 2017.
Jones Walker has served as legal counsel to Black Diamond in connection with this acquisition.
About Black Diamond
Black Diamond is a leading alternative asset management firm with over $8 billion in assets under management. Black Diamond is currently pursuing control distressed/private equity investments from its fourth private equity fund. Black Diamond's control distressed/private equity funds focus specifically on middle market companies with market leadership positions within their sectors. Founded in 1995, Black Diamond employs investment professionals across offices in Greenwich, CT, Lake Forest, IL, London, England and St. Thomas, USVI.