Race Rock Acquires Spitzer Industries to Create Leading National Infrastructure and Industrial Services Platform

October 8, 2025 9:30 AM Eastern Daylight Time

HOUSTON–(BUSINESS WIRE)–Race Rock (www.racerock.com), a nationwide infrastructure solutions leader, is pleased to announce the acquisition of Spitzer Industries (www.spitzerind.com), a long-standing provider of engineered equipment and modular solutions for energy and industrial markets. This strategic combination unites two highly complementary businesses to expand on Race Rock’s national platform positioned for scale, innovation, and long-term growth across various infrastructure, energy, and industrial end markets.

“By combining with Spitzer Industries, we are creating a stronger, more diversified business with broader capabilities and geographic reach across Texas.” Post this

Founded in 1996, Spitzer Industries has built a reputation as a trusted partner in the fabrication of complex process systems, pressure vessels, and modular assemblies. Having been a portfolio company of The Stephens Group, LLC (“Stephens Group”) since 2007, Spitzer Industries will now operate as a standalone division within Race Rock and maintain headquarters in Houston, TX. Together, the companies will leverage their respective strengths – Race Rock’s agility, operational expertise, and deep relationships in utility and highway infrastructure, and Spitzer’s technical capabilities, manufacturing footprint, and track record of delivering high-spec engineered products. With the addition of Spitzer Industries, Race Rock will continue serving customers across the U.S., with expanded capabilities in engineering, fabrication, field services, and modular construction.

“This is a transformational moment for both of our companies,” said Donald W. Young, Chairman and CEO of Race Rock. “By combining with Spitzer Industries, we are creating a stronger, more diversified business with broader capabilities and geographic reach across Texas. This acquisition allows us to better serve our customers, invest in our people, and accelerate growth through continued innovation and excellence in execution.”

Cullen Spitzer, President of Spitzer Industries, added “This acquisition brings together two companies with aligned cultures, shared values, and a relentless focus on delivering quality solutions. We are excited to join forces with Race Rock and bring even greater value to our customers and partners.”

Leadership from both companies will remain in place to ensure continuity and integration success. The acquisition combines existing investors of both organizations whose continued support will enable additional strategic investments and expansion into new markets. Race Rock funded the acquisition through a combination of debt and equity. Debt financing was provided by a syndicate of banks led by JP Morgan. Gibson Dunn & Crutcher LLP acted as legal advisor to Race Rock on the acquisition. Jones Day served as legal advisor to Spitzer Industries. Jefferies LLC served as exclusive financial advisor to Spitzer Industries.

For more information about the combined company, please visit www.racerock.com and www.spitzerind.com.

Source: Race Rock Acquires Spitzer Industries to Create Leading National Infrastructure and Industrial Services Platform