The Rose Corporation, 401 North Eighth Street, Reading, a privately owned contract manufacturing steel fabrication company, is pleased to announce that it has become a sister company to Abbott Furnace, St. Mary’s, Pennsylvania, effective December 1, 2016. Having been purchased by the same owner, Edmund Gaffney, of Haverford, PA, both Rose and Abbott will continue to operate independent of each other but joining capabilities to enhance offerings to their current customers and opportunities for the growth of both entities. The Rose Corporation, also doing business as Mark Metals, currently employs 52 and Abbott employs 70.
The acquisition of The Rose Corporation focuses on broadening new furnace sales opportunities using intellectual property developed/owned by both companies and the ability to build larger furnaces with the expanded facility in Reading.
Elaine McDevitt, CEO and daughter of the company’s founders, Louis and Rosemary Bruno, spoke on behalf of her family when she said she couldn’t be more delighted with the opportunities this acquisition means to The Rose Corporation and the co-workers who have worked so hard to help build it. “Ed Gaffney could have invested anywhere and he chose to do it in our community, in our company, in our people because of our 30 year history of building a solid reputation in quality, on-time custom steel fabrication. We are so proud of our skilled workforce and what they accomplish every day and are looking forward to the opportunity to broaden our horizons even further with this opportunity.”
Gaffney is also excited about the long term prospects for both companies. “Abbott Furnace Company has a reputation as a world leader in the production of continuous thermal process equipment and customer service that is second to none.” said Gaffney. “We feel the cultures of both companies create a very positive synergy for moving forward together.”
BMI Mergers & Acquisitions represented The Rose Corporation, introduced the buyer, and assisted with the transaction. With offices in Reading Pennsylvania, Philadelphia, Los Angeles and Stamford Connecticut, BMI specializes in the confidential sale and acquisition of privately held businesses.
The Rose Corporation was established in 1987 and over the years has produced a variety of custom built equipment including thermal oxidizers, industrial furnaces of all kinds, condensers, sterilization chambers, ladles, machine bases and material handling equipment and more. In 1990 Mark Metals, a steel service center was added to their offerings. Mark Metals is located at 2100 Adams Street, Reading, PA.
Abbott Furnace Company was established in 1982 as a manufacturing and service company for control panels. In 1986, Abbott Furnace Company manufactured its first continuous belt furnace for the production of powder metal products. Abbott Furnace Company is recognized as a leader in the production and technology of continuous thermal processing equipment with a reputation for outstanding customer service. Abbott Furnace Company is located in St. Marys, Pennsylvania.