Bruce Oakley to Purchase Lange-Stegmann

Bruce Oakley Inc., North Little Rock, Ark., announced on April 26 that it has signed a definitive agreement to purchase the Lange-Stegmann Company (LSCO), St. Louis, Mo. The companies expect to close the sale on or around May 31, 2019. Terms of the transaction were not disclosed. Patrick Nolan of Nolan & Associates represented LSCO in the sale.

LSCO was founded as Lange Brothers Fertilizer in 1926 by brothers Henry and Dewey Lange. The company today operates a fertilizer and bulk commodity handling terminal on the Mississippi River, and is currently led by Rich Stegmann and Mike Stegmann. At the time of some facility upgrades completed in 2017 (GM July 14, 2017), LSCO reported that it had some 113,000 st of covered dry fertilizer storage and 30,000 st of liquid storage at the northernmost port on the Mississippi River open to year-round barge access.