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HOUSTON-It’s an instant national steel structure-fabricating company with 1,000 employees, and $240 million in projected revenues for the year 2000, which makes it, overnight, one of the largest such firms in the country.

Houston’s private investment firm, Main Street Ventures II, has managed to put together nine independent companies, which build steel structures, to form Fabrication Technology Corp. – or just “FabTech,” — with operations in six states and headquarters in Houston. Companies comprising FabTech include: – Lyndon Steel Group, including Lyndon Steel Co. and Winston Steel & Stair Co. of Winston-Salem, NC and Kinston Steel Co. of Kinston, NC,- Steel Fabricators LLC of Ft. Lauderdale, FL, – Presco Steel Group, including Presco Steel Inc. and Presco Steel Erectors Inc. of Gainesville, GA- Steel Inc. of Scottdale, GA- Wylie Steel Fabricators Inc. of Brentwood, TN- C&I Steel Inc. of Hyannis, MA- Superior Steel Inc. of Knoxville, TN- Fabco Metal Products Inc. of Daytona Beach, FL- Myers & Co., Architectural Metals of Basalt, CO

All nine companies erect steel skeletons for commercial and industrial buildings, including warehouses and plants, according to Main Street VP and CFO Todd Reppert. Former shareholders of each of the FabTech founding companies will receive a majority of their merger consideration in the form of FabTech stock. “The merger allows member firms to take advantage of their larger capacity, share jobs and pursue customers,” Reppert told GlobeSt.com.

FabTech figures to remain private for the time being. “An IPO is not in the immediate plans,” Reppert says. “The public markets aren’t particularly good now, and FabTech doesn’t need the financing.” He explains Main Street has been able “to consummate the merger transactions with a capital structure that positions the company for continued growth and for enhancing shareholder value.”

Chairman of FabTech is Frank Wylie, president of Wylie Steel Fabricators on Brentwood, TN. Past chairman of the board of directors for the American Institute of Steel Construction, Wylie says “We are excited to combine forces with some of the nation’s premier steel fabrication companies. The nine founding companies, and their respective management teams, are committed to building a leading company in our industry and capitalizing on favorable industry trends.”

Main Street is a Houston-based private equity firm with significant experience in structuring and executing mergers, acquisitions and industry consolidation initiatives. Vincent D. Foster, senior managing director of Main Street, says the new company “is well positioned to take advantage of the combined operational benefits.

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