Spokane Valley-based SCAFCO Grain Systems Co., a subsidiary of the Stone Group of Companies, has been acquired by an out-of-state grain bin and livestock equipment manufacturer.
Stone Group of Companies president Larry Stone on Thursday announced the sale of SCAFCO Grain Systems Co. to Sioux Steel Co. of Sioux Falls, South Dakota.
The sale closed March 1. Financial terms of the sale were not disclosed.
“The Sioux Steel Company is an excellent manufacturer with over 100 years of experience,” Stone said in a statement. “I’m thrilled the Sioux Steel Company is retaining all of our current SCAFCO Grain Systems Company employees and is also keeping the business in Spokane.”
SCAFCO Grain Systems, founded in 1961 and headquartered at 5400 E. Broadway Ave. in Spokane Valley, manufactures grain bins, structures, handling equipment, drying technology and accessories.
SCAFCO Grain Systems was the only subsidiary of the Stone Group of Companies included in the sale.
The Stone Group of Companies has more than 400 employees and businesses in California, Florida, Idaho, Montana, Oregon, Nevada and Washington.
It includes SCAFCO Steel Stud Co., Steel Construction Systems, CWallA, Kern Building Materials, LB Stone Properties Group and Playfair Commerce Park.
Sioux Steel Co., founded in 1918, is a fourth-generation, family-owned business.
“The addition of SCAFCO Grain Systems Company will elevate our business and I’m excited to welcome all the great SCAFCO Grain Systems Company employees to our family and to acquire such an impressive facility,” Scott Rysdon, president and CEO of Sioux Steel Co., said in a statement.
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