The Pros Acquires Washington Iron Works
The Pros can now vertically integrate foundry operations for quicker development and delivery of complex machining applications to agriculture, industrial air, oil and gas, and refrigeration customers.
Posted: September 28, 2015
The Pros Company (Lubbock, TX), a full-service machine shop, has announced the acquisition of the nearly 140-year-old Washington Iron Works (Sherman, TX), a historic company that produces aluminum mold casting and heavy duty industrial bearings. This acquisition will enable The Pros to vertically integrate operations and allow quicker development and delivery of complex applications to company’s global agriculture, industrial air, oil and gas and refrigeration customers.
“Washington Iron Works is a legendary brand with extensive knowledge and expertise that will help us better serve our customers,” said Rhett Newberry, the chief executive officer of The Pros. “Plus, with the help of the Sherman Economic Development Corporation (SEDCO), we are proud to contribute to the company’s rich tradition and the thriving manufacturing industry in Texas by hiring additional employees at the existing facility in Sherman.”
Washington Iron Works, which will continue to operate under the same name as a subsidiary of The Pros, can be traced back to 1876, when founders Solon and Levi Totten started Totten Bros. Blacksmith to create stagecoach wheels and freight wagons. Nearly 140 years and a new name later, Washington Iron Works has a 50,000+ sq ft state-of-the-art facility with an on-site foundry that will allow The Pros to create more products that meet customer demand.
“This will allow us to continue our long-standing tradition of excellence under the name that has become synonymous with quality, while also offering additional resources to help expand our operations and reach customers worldwide,” said Scott Totten, the past president and owner of Washington Iron Works. “Also, we are thrilled to bring additional jobs to the city we’ve called home for so many years. This community is important to us, and their investment in us is another example of what Sherman can offer to businesses of all kinds.”
SEDCO and The Pros agreed to an economic development performance agreement which provides the company with an $85,000 incentive. Payment will be made in three installments based on the performance criteria outlined in the agreement, which includes an expected increase of the Washington Iron Works employment base by nearly 100 percent over two years.
“Washington Iron Works has served as a cornerstone business and one of the pillars of the business community in Sherman for many years,” said Brooks Hull, the chairman of the SEDCO board of directors. “With the combined capabilities of these two companies, this agreement will help elevate Sherman’s presence nationwide as a destination for manufacturing operations and the industries they serve.”
Subscribe to learn the latest in manufacturing.
