Integrated Utility Services (IUS) Acquires Assets of Stuart Steel Protection Corporation
Acquisition makes IUS one of the largest minority-owned energy manufacturing and services companies of its kind in the United States
HOUSTON, Jan. 10, 2023 /PRNewswire/ -- Houston-based Integrated Utility Services (IUS) has acquired the assets of New Jersey-based Stuart Steel Protection Corporation (SSPC), a manufacturer, packager, and master distributor of corrosion control products, in a deal that closed Monday.
IUS, a certified Minority Business Enterprise "MBE" with the National Minority Supplier Development Council, will operate these assets under newly formed Stuart Steel Protection, LLC.
IUS Co-founder, President & CEO Trinity Dawson said the acquisition aligns with the company's vision to serve the energy industry's MRO (maintenance, repair, and operations) and project needs.
"Many organizations rely heavily on domestic manufacturing and outsourced services to execute their projects," Dawson said. "The asset acquisition of Stuart Steel Protection Corporation, with its domestic manufacturing, packaging, and fulfillment services, lays the foundation for us to expand strategic partnerships with key distributors and end-users within the energy space."
With locations in New Jersey, Georgia, and Tennessee, Stuart Steel provides corrosion control products (such as magnesium anodes) to the oil, gas, electric, water, sewer, telecommunications, and marine industries. SSPC's long-time General Manager, Pattie Leatherman, has been named Vice President of Stuart Steel Protection and former company owner Gordon Stuart will serve as a consultant to IUS and Stuart Steel Protection.
"It's been an honor to serve the SSPC family, its customers, and to build on the foundation my father laid over 70 years ago," Stuart said. "I take comfort in knowing that I'm leaving our business in the capable hands of the IUS leadership team. Their values and business principles align with the culture we've built, and I look forward to helping them in any way that I can."
Dawson, the former Vice President of Gas Utilities for MRC Global, teamed up with co-founder Dustin Ketchum to form IUS in 2021. Both say this acquisition will foster expansion opportunities for IUS as it grows to be "Energy's One Supply Chain Solution. ™"
Integrated Utility Services (IUS) is developing a full-scale integrated service company by operating and investing in companies that produce the highest quality products and provide top professional and technical services to the energy industry. For information, visit www.iuscompanies.com.
SOURCE Integrated Utility Services
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