Metromont Corp. will expand its reach in the Mid-Atlantic region.
The Greenville-based manufacturer of precast concrete materials has announced it plans to acquire the Shockey Precast Group, headquartered in Winchester, Va.
Financial details of the deal were not disclosed.
Metromont said it will purchase Shockey Precast Group from its current owner Don Shockey and operate the company under the same name as a division of Metromont Corp.
Don Shockey will retain ownership of the company’s commercial real estate division Shockey Realty Co., and Howard Shockey & Sons, a general contractor.
Shockey Precast Group serves the Mid-Atlantic market and specializes in parking structures, mission critical facilities, and wall enclosure systems.
“The Shockey Precast Group has an outstanding reputation,” said Rick Pennell, president and CEO of Metromont Corp., in a statement. “Don Shockey has built a quality operation and organization. Our culture and business models are very similar, which will make for a smooth transition for both parties.”
“The addition of Shockey Precast and its associates to our team is exciting and will further strengthen our capabilities in the mid-Atlantic region,” Pennell added.
Metromont operates manufacturing facilities in Greenville and Spartanburg Counties, as well as Charlotte, N.C., Hiram, Ga., Richmond, Va., and Bartow, Fla.
The company said it is one of the largest privately owned precast concrete manufacturers in the U.S. Its primary market segments include schools, office buildings, data centers, parking structures, industrial plants, mixed-use structures and stadiums.
Metromont said it has built more than 50 stadiums, including seven NFL stadiums, 15 sports arenas, more than 30 total precast multifamily structures and more than 1,000 parking structures.
“The decision to sell Shockey Precast Group, though beneficial for all involved, has not been easy due to the long family history behind it,” said Don Shockey, chairman of The Shockey Companies, in a statement. “However, Metromont has an excellent reputation in the industry and we feel the business as well as our employees are in good hands.”