Lexicon Inc. of Little Rock on Tuesday announced it had acquired commercial and industrial insulation contractor Universal Limited Inc. of Trussville, Alabama.
Financial terms of the deal were not disclosed.
The announcement comes after Arkansas Business reported in June that Lexicon was looking at acquisitions as a way to address inflationary pressures and expand its footprint.
Lexicon said in a news release that all of Universal's nearly 200 workers will continue their employment and remain in Alabama. The company, founded in 1974, will rebrand as Universal, A Lexicon Inc. Company.
Under CEO and owner Rick Howell, Universal has expanded its market presence over the years to include the steel, cement, chemical processing and power industries. It has also started offering scaffold erection, insulation maintenance, roofing and siding, and painting services.
Notable projects include insulation, scaffolding and heat tracing at Georgia Pacific in Brewton, Alabama; roofing and siding at Nucor Steel in Sedalia, Missouri; scaffolding at Yuhaung Chemical in St. James, Louisiana, and roofing and siding at Nucor Steel in Ghent, Kentucky.
“Between our mutual histories as longstanding family-owned businesses and our shared vision to define excellence, we knew Universal would be the perfect addition to the Lexicon family,” said Patrick Schueck, Lexicon’s president and CEO, said in the release. “As part of our intentional growth strategy, this acquisition allows us to strategically expand our service offerings and reach new customers across the country.”
Lexicon purchased Steel Fabricators of Monroe, Louisiana, in late 2020 to boost Lexicon’s structural fabrication capacity.