Acquisition expands prefabricated building solutions and services across the United States
ALBANY, Minn., July 16, 2024 /PRNewswire-PRWeb/ -- Wells, one of the largest prefabricated building solutions providers in the United States, has announced the acquisition of GATE Precast, a subsidiary of GATE Petroleum Company. With more than 110 years of combined experience in the industry, the partnership aligns two companies dedicated to innovation, solutions and services across the United States.
"Every day at Wells, we're building the future — landmarks and gathering places — for businesses, careers, families, communities and greater prosperity," said Sam Nesius, chairman and executive vice president, The Wells Companies, Inc. "As we bring GATE Precast into the Wells family of employees, customers and shareholders, our capabilities and vision align perfectly."
Wells and GATE Precast have collaborated and shared best practice methodologies for years, a core component of the industry-best services and solutions available. This bold step creates a stronger future and continues the mission of transforming communities and inspiring pride in the solutions, spaces and futures it creates through partnerships across the country.
"We're incredibly proud of what this means for our company, and that includes partnering with each and every one of our team members at Wells and those from GATE Precast," said Dan Juntunen, president and CEO, The Wells Companies, Inc. "Our relationship has grown stronger over 10 years and during that time, it has become very apparent that we share a consistent vision; safety, focus on our people, quality products and services, and strong client relationships. Our spirit of collaboration, shared strengths and opportunities to make our entire company even stronger is incredible. We are so excited to welcome the people of GATE Precast into the Wells Companies."
With this acquisition, Wells grows to more than 20 locations across the United States with 14 manufacturing facilities totaling 2200 team members covering over 30 states; and in 2023, completing more than 600 projects with almost $4 billion in preconstruction client engagement.
"This is an exciting step into building our future," said Dean Gwin, president and chief operating officer, GATE Precast. "We feel the synergies between our two companies — and our clients will as well — especially considering our years of benchmarking together. We're excited for our future and confident that, together, we can serve our clients with industry-leading solutions and services no matter their location."
About Wells
Wells is one of the nation's largest full-service prefabricated building solutions providers. With over 70 years of expertise, Wells works alongside design and construction partners, adding value by solving challenges, reducing risk and establishing trust from project onset to completion. With an eye to the future, Wells advanced research, manufacturing and building practices are continuously raising standards for innovation and efficiency in the built environment. The Wells team creates landmarks across the U.S., transforming communities and helping businesses and individuals thrive.
About GATE Precast
GATE Precast operates eight manufacturing facilities with the most diverse product lines of prefabricated concrete systems for structures. GATE Precast maintains its reputation for superior quality while continuously engaging with academia, design-assist partners and others in the construction industry to research and develop innovative prefabricated products and finishes for the built environment. With that focus, GATE Precast provides designers greater freedom through a resilient product, owners more cost certainty through lower life-cycle costs and builders an accelerated project schedule and cleaner, safer jobsites. Our many award-winning projects embody this focus.
Media Contact
Kimberly Wacker, Wells, 1 262.384.1334, [email protected], https://www.wellsconcrete.com/
Jane Martin, GATE Precast, 1 251.593.9677, [email protected], https://gateprecast.com/
SOURCE Wells
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