Sioux Falls-based Lloyd Companies has entered into an agreement to acquire Sioux Falls-based Engineered Truss Systems Inc.
The acquisition is expected to be finalized in early November and will be followed by the construction of a new, larger building for the business.
Engineered Truss Systems was founded in 1985 and acquired two years later by Daryl Paclik. He sold it to his son, Chris, in 2020.
The business specializes in manufacturing high-quality roof and floor trusses and also offers Laminated Veneer Lumber beams and headers.
Lloyd plans to expand the business to include wall panels and other building components.
“Our goal is to put additional resources behind it and expand its offering to be a more holistic building envelope provider for new and existing customers,” said Jake Quasney, Chief Operating Officer for Lloyd Companies.
“They have a really strong pipeline of existing work, a good team that knows what they’re doing and a process that already works.”
Chris Paclik will remain president post-acquisition and the name will remain the same. The team of about 20 also will stay in place.
“I never thought about selling, but it just seemed like a really good opportunity,” Paclik said. “It’s been very smooth. They’ve been very easy to work with, friendly people, and what they want to do is what I envisioned and wasn’t able to do because I wasn’t big enough and didn’t have the resources. Plus they’re still a local family business, which made it an easier decision too.”
Lloyd Companies plans to begin construction on a new 80,000 square-foot manufacturing and office building in the Brandon Corson Industrial Park for Engineered Truss Systems.
“We’ll have rail, which will allow us to be more efficient and strategic with the way we’re growing the business,” Quasney said.
The plan is to open in the fall of 2023.
“That’s going to make a huge difference,” Paclik said. “We’re getting tight on space here for what we want to do.”
“As Lloyd Companies seeks to make its building processes more efficient, access to a manufacturer such as Engineered Truss Systems is a competitive advantage,” Quasney said.
“We could have forged out on our own trying to do something like this, but this is a people business. And having the right people in place allows us to aggressively scale the things we want to do,” he said. “They know the equipment and the processes, we’ll make them more efficient with automation and sophistication in a new facility and then we’ll have a really efficient building system to support what we do.”
“Allowing more building materials to show up at work sites pre-assembled adds efficiency and optimizes workforce,” he added.
“We’re still going to work with our existing partners. But we know that as we look at the demands of our business and that of our strategic development partners, we need a supplement to get all the work done and meet our required timelines,” Quasney said.
“This will help us deliver the products we need to our job sites and ultimately make the process more efficient for everyone involved. We’re thrilled we could make it happen by adding a local, family-owned business to our Lloyd Companies family.”
To learn more about Engineered Truss Systems, click here.