BICO Steel Expands its Die Set and Steel Processing Capabilities with Acquisition of Pioneer Steel Corporation

“This acquisition represents a strategic expansion of our die set manufacturing capabilities and reinforces our commitment to providing customers with industry-leading lead times, quality and service.”

Mogadore, OH, April 7, 2025 — BICO Steel (“BICO”), a portfolio company of Validor Capital, is pleased to announce it has acquired Pioneer Steel Corporation, significantly expanding its die set manufacturing and steel plate processing capabilities.

Pioneer Steel Corporation (“Pioneer”) is a leading provider of custom die set manufacturing and steel plate processing services for a diverse set of industrial end markets. Pioneer has built a strong reputation for delivering high-quality products with quick turnaround times, supported by a highly skilled workforce and robust manufacturing infrastructure.

John Frazier, CEO at BICO, stated, “We are thrilled to welcome the Pioneer team to the BICO family. This acquisition represents a strategic expansion of our die set manufacturing capabilities and reinforces our commitment to providing customers with industry-leading lead times, quality and service. With Pioneer’s team and facility in Grand Rapids, we continue to grow our capacity in the Midwest and further position BICO as a leader in the industry.”

Terms of the transaction were not disclosed.

About BICO Steel

Founded in 1896, BICO Steel is a highly-specialized processor of heavy carbon steel plate and forged specialty alloy steel used primarily in the production of quality-critical, high-performance products used in the molding, process equipment, tool and die, and capital equipment industries. BICO’s customers serve a diverse group of end markets including aerospace, automotive, canning, paper conversion, consumer goods, building products, and oil and gas, amongst others. For more information, please visit www.bicosteel.com.

About Validor Capital

Validor Capital is a private investment firm that provides liquidity to family and founder owned industrial, manufacturing, and service businesses in the lower middle market. We seek situations where we can partner with management teams to leverage our combined expertise and deep industry relationships to create significant value. For more information, please visit www.validorcap.com.