NEW YORK, Feb. 7, 2018 /PRNewswire/
-- Alleghany Capital Corporation ("Alleghany Capital"),
a subsidiary of Alleghany Corporation, today announced that WWSC
Holdings, LLC ("W&W|AFCO") has acquired the Hirschfeld
Industries group of companies ("Hirschfeld" or the "Company").
Headquartered in San Angelo,
Texas, Hirschfeld is a leading fabricator of steel bridges
and structural steel for stadiums, airports, and other large
commercial and industrial projects.
Rick Cooper, President & CEO
of W&W|AFCO, commented, "The acquisition of Hirschfeld brings
together two great companies with long histories in the bridge and
fabricated steel markets. Together, W&W|AFCO and
Hirschfeld will have 14 production facilities, approximately 3.5
million square feet of manufacturing capacity, and a team of
talented employees capable of executing the most demanding and
complex projects. We welcome Hirschfeld to the W&W|AFCO
family and believe that our two companies will be much stronger
together, benefiting our customers, vendors, employees, and the
communities in which we work and live."
Dennis Hirschfeld, the Company's
Vice Chairman, added, "Hirschfeld, which was founded in 1946, is
one of the largest fully integrated fabricators of highly
engineered structural steel in North America. Our dedicated
team has completed significant projects in recent years, including
SunTrust Park, home of the Atlanta Braves, The Louis Armstrong New
Orleans International Airport, and the Tappan Zee Bridge
replacement. We are excited to join W&W|AFCO and believe
there is a strong strategic and cultural fit between our two
companies."
David Van Geyzel, President and
Chief Executive Officer of Alleghany Capital, added, "This
transaction meaningfully expands W&W|AFCO's presence within its
markets and is consistent with the growth strategy that
Rick Cooper and Alleghany Capital
developed when we formed our partnership last year. As a
long-term investor, Alleghany Capital looks forward to supporting
these two companies as they build upon their already impressive
histories and embark on their next stage of growth together."
Willkie Farr & Gallagher LLP
acted as legal counsel to W&W|AFCO. Cowen advised
Hirschfeld on the transaction and Hunton & Williams LLP acted
as legal counsel to the Company.
About Alleghany Capital Corporation
Alleghany Capital Corporation sources, executes, and oversees
certain investments and acquisitions for its parent company,
Alleghany Corporation (NYSE-Y). Alleghany Capital's
investments include: (i) Bourn & Koch, Inc., a manufacturer and
remanufacturer of precision machine tools as well as a supplier of
replacement parts and related services; (ii) IPS-Integrated Project
Services, LLC, a technical service provider focused on the global
pharmaceutical and biotechnology industries; (iii) Jazwares, LLC, a
licensed toy and consumer electronics company; (iv) R.C. Tway
Company, LLC (dba Kentucky Trailer), a manufacturer of custom
trailers and truck bodies for the moving and storage industry and
other markets; (v) Stranded Oil Resources Corporation, an
exploration and production company focused on enhanced oil
recovery; (vi) W&W|AFCO Steel, a fabricator and erector of
structural steel for commercial, manufacturing and transportation
infrastructure projects; and (vii) Wilbert Funeral Services, a
provider of products and services for the funeral and cemetery
industries and precast concrete markets. For additional
information about Alleghany Capital Corporation, please visit
www.alleghanycc.com.
About W&W|AFCO Steel
W&W|AFCO Steel, headquartered in Oklahoma City, Oklahoma is one of the largest
and most experienced structural steel fabricators and erectors in
the nation. W&W Steel has been in business since 1945 while its
subsidiary, AFCO Steel, dates back to 1909, combining for nearly
182 years of experience. With a diverse resume of successfully
completed projects, W&W|AFCO Steel can provide services to fit
any project size and degree of complexity, both domestically and
internationally. W&W|AFCO Steel has 6 production facilities,
totaling 1.8 million square feet, with offices across the
U.S. For more information about W&W|AFCO Steel, please
visit www.wwsteel.com.
Forward-looking Statements
This release contains disclosures which are forward-looking
statements as defined in the Private Securities Litigation Reform
Act of 1995. Forward-looking statements include all
statements that do not relate solely to historical or current
facts, and can be identified by the use of words such as "may,"
"will," "expect," "project," "estimate," "anticipate," "plan,"
"believe," "potential," "should," "continue" or the negative
versions of those words or other comparable words. These
forward-looking statements are based upon Alleghany's current plans
or expectations and are subject to a number of uncertainties and
risks that could significantly affect current plans, anticipated
actions and Alleghany's future financial condition and
results. These statements are not guarantees of future
performance, and Alleghany has no specific intention to update
these statements. As a consequence, current plans,
anticipated actions and future financial condition and results may
differ from those expressed in any forward-looking statements made
by Alleghany or on Alleghany's behalf.
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SOURCE Alleghany Capital Corporation