Employees purchase and strengthen business
“The SBDC…continues to be a tool that we use to maintain our competitive edge.” – co-owners Gary Palmer & Jamin Wills
K&T Steel Corporation fabricated steel products and sold plain steel material since 1959. As the ripple effects of the 2008 economic crisis spread throughout the country, the long-time owner decided to retire. Employees Gary Palmer and Jamin Wills decided to purchase the business and contacted the Idaho SBDC at the College of Southern Idaho. Over the next 18 months, the Idaho SBDC team worked to assist Gary and Jamin in structuring the purchase, acquiring sound financing and reorganizing the corporation to better compete in the modern business environment. They emerged from the purchase in September 2014 in the best possible position for the company moving forward. Along with realizing profits each year, Gary and Jamin have implemented a 401K for the employees. K&T Steel continues to grow and with expansion projects such as the purchase of more modern and automated equipment, new software programs and adjacent land on target.
To learn more about K&T Steel, click here.
To see the complete success story, click here.
Idaho SBDC Success Story
Twin Falls, ID
Twin Falls County