Benchmark International Facilitates Acquisition of Viking Steel Fabricators by Chesapeake Bay Steel

July 10th, 2024 10:00 AM
By: Advos Staff Reporter

Benchmark International has successfully brokered the acquisition of Fredericksburg Machine & Steel, LLC, known as Viking Steel Fabricators, by Norfolk-based SRF, LLC, operating as Chesapeake Bay Steel, Inc. This strategic move is poised to enhance service offerings and foster growth for both companies.

Benchmark International Facilitates Acquisition of Viking Steel Fabricators by Chesapeake Bay Steel

Benchmark International has achieved a significant milestone by facilitating the acquisition of Fredericksburg Machine & Steel, LLC, commonly known as Viking Steel Fabricators, by SRF, LLC, which operates under the name Chesapeake Bay Steel, Inc. This transaction promises to bring substantial growth and expanded service offerings to both entities involved.

Viking Steel Fabricators, established in 1950, has developed a robust reputation in the steel industry. The company's portfolio includes the fabrication and installation of structural and miscellaneous steel, ornamental iron, and custom stairs and handrails. Additionally, Viking Steel offers a diverse range of steel and miscellaneous metal products, catering to various client needs. The company is also committed to historic preservation, providing expert restoration and repair services to maintain and enhance historical structures. This comprehensive range of services has made Viking Steel a trusted partner for both modern and historical steel projects.

"Viking Steel President Christopher 'Luke' Breivik and his team have built a great business with strong customer relationships in the private, public, and government sectors," commented Benchmark Transaction Director Sean Fechtmann. "The quality of their work speaks for itself, with approximately 80% of customers being repeat customers and more than 70 years in operation."

Chesapeake Bay Steel, which has been serving the Tidewater area since 1962, brings its own extensive experience in the steel industry to the table. As a family-owned and operated business, Chesapeake Bay Steel specializes in steel fabrication and erection, framing, joist, decking, stairs, railings, and metal fabrication projects. The acquisition of Viking Steel Fabricators is expected to bolster Chesapeake Bay Steel's strategic growth plans by broadening its existing service offerings. Importantly, Viking Steel’s leadership team will remain intact to support the company’s future growth.

This acquisition represents a strategic alignment that is likely to benefit both companies significantly. For Viking Steel, the backing of Chesapeake Bay Steel provides an opportunity to leverage additional resources and expertise, potentially leading to new business opportunities and enhanced service delivery. For Chesapeake Bay Steel, the acquisition brings a well-established brand with a solid customer base and a diverse range of services that complement its own offerings.

The successful facilitation of this transaction by Benchmark International underscores the firm's expertise in mergers and acquisitions. With a track record of handling over $11 billion in transaction value across various industries, Benchmark International continues to provide business owners with creative, value-maximizing solutions for growing and exiting their businesses.

Source Statement

This news article relied primarily on a press release disributed by News Direct. You can read the source press release here,

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