ST. LOUIS — Gross & Janes Co., a century-old provider of untreated railroad crossties based in Kirkwood, is being acquired by a Pittsburgh-based public company.
Kopper Holdings Inc. (NYSE: KOP), which provides treated wood products, said Monday that its Koppers Inc. subsidiary has agreed to acquire substantially all the assets of Gross & Janes. Terms of the deal, expected to close within the next 30 days, weren't disclosed.
Gross & Janes, founded in 1920, is North America's largest independent supplier of untreated railroad crossties, and also supplies switch ties and bridge timbers. In addition to its Kirkwood headquarters, it has operations in Williamsville, Missouri, and Camden, Arkansas. The company sources crossties and switch ties from a network of more than 125 independently owned sawmills, before shipping them to third-party plants for final treatment as designated by its customers, according to its website.
Members of the Gross and Janes families were the sole owners of the closely held company until fall 2016, when CFO Mike DiRaimondo and then newly promoted President Bill Behan bought an equity stake in the company.
Gross & Janes ranked among St. Louis' largest private companies most recently in 2014, reporting $105 million in 2013 revenue, with 65 total and seven local employees at the time.
Gross & Janes executives didn't respond to a request for information about the company's current ownership and the status of its employees after the Kopper transaction closes.
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