Oklahoma-based Crimson Steel Supply, a rebar fabricator, wire mesh supplier, and highway/roadway structural steel fabricator has been acquired by Argonaut, a private equity fund based in Tulsa.
Argonaut purchased the steel fabricator as part of its strategy to utilize Crimson’s supplier and customer relationships to meet rising demand in infrastructure development, the equity firm said in a statement Tuesday.
Crimson was founded in 2010 and holds additional sites in Muskogee and Oklahoma City. Along with a leading presence in Oklahoma’s market, the steel company provides and ships to customers on a national scale.
The steel supply company is well prepared to support the growing infrastructure boost in the US and Argonaut noted the partnership will allow for continued long-term growth.