Texas company buys D&M Wire Rope
D&M Wire Rope of Grand Junction has been acquired by Delta Rigging and Tools of Lake Jackson, Texas.
Delta Rigging has been buying smaller companies involved in the mining business for the past three years, increasing its territory and the services it can provide customers.
The acquisition of D&M, which builds and sells chain, wire rope, wire rope slings, synthetic slings and rigging hardware, is the latest step in Delta Rigging’s expansion.
“We look at it as an extension of our territory,” said Kevin P. Rodgers, chief executive officer of Delta Rigging.
Rodgers’ company primarily operates in the Gulf Coast region of the United States. The purchase positions Delta Rigging to become a bigger player in the Rocky Mountain West states of Wyoming, Utah and Colorado, the company said.
“D&M will allow Delta Rigging to expand its footprint ... and more efficiently serve the mining and land-based oil and gas markets,” Rodgers said.
“We have seen an opportunity to grow in that area.”
Rodgers said the expansion of the coal industry in Mesa County weighed heavily in Delta’s decision to plant roots in western Colorado.
All 35 full-time employees at D&M will be retained, Rodgers said.
The founder of D&M, Jim Davis, said he will be staying to help with the transition.
The purchase of D&M “is the seventh in the last three years by Delta Rigging,” according to the news release.
D&M Wire Rope was founded in 1981. Four years ago it expanded its Grand Junction footprint, 722 Scarlet St.
D&M’s 47,000-square-foot warehouse has more than 13,000 items in stock, according to D&M’s Web site.