Investment and financial services firm Venture First and digital transformation group TYP64 have announced the acquisition of Australian-based Scottsdale Construction Systems; the new portfolio will provide digital transformation services to Scottsdale's high-performance steel framing construction system to support the scale of worldwide production.
In a Dec. 6 news release, the portfolio company said that Scottsdale manufactures and supports “…the world's most advanced light gauge steel wall frame and roof truss technology.” Its steel roll-forming machines are enabled with proprietary technology, providing solutions ranging through single or multi-machine, high-volume applications. Roll Forming Die
"We are excited to build on this strategic partnership and look forward to our next chapter alongside the Venture First and TYP64 teams," said Scottsdale CEO Derek McSpadden. "They have a proven methodology in their ability to deploy enterprise-wide digital transformation solutions, and we believe that will partner well with our own history of innovation in this fast-paced industry."
The steel truss market is expected to increase exponentially in the next three to five years globally, as the manufacturing industry continues to field demand for products that are eco-friendly. The new portfolio company noted how lightweight steel framing systems are replacing wood as a viable option for long-term effectiveness and efficiency in new construction.
"We are committed to investing in promising companies that have talented teams and innovative technologies," said Venture First CEO John Shumate. "We believe Scottsdale has a unique opportunity to take advantage of a rapidly changing commercial and residential building market that is ripe for the manufacturing system and technology they offer."
The firm said its initial capital infusion will be used in three primary areas: to build and deploy investment options for customers, increase capacity to fulfill orders faster, and to quickly expand into new markets, including through distribution partnerships within the EU and U.S.
"Scottsdale has been, and will continue to be, the industry leader in the light gauge steel framing industry," said Steve Huey, founder and CEO of TYP64. "We see the opportunity that lies ahead for everyone on the team at Scottsdale, and we are excited to combine forces to scale this much-needed product across the world quickly."
For more information, visit scottsdalesteelframes.com.
Roofing Contractor magazine editor-compiled stories, staff reports and industry news releases.
To submit news or for corrections, contact Bryan Gottlieb, managing editor, at gottliebb@bnpmedia.com.
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