Stueve Construction, LLC: Company Profile

Background

Overview

Stueve Construction, LLC, established in 1958 and headquartered in Algona, Iowa, is a leading design-build construction firm specializing in the design and construction of fertilizer storage facilities and port terminals. With over 1,400 facilities built across the U.S. and Canada, the company has solidified its position as a pioneer in the agricultural construction sector.

Mission and Vision

Stueve Construction is committed to delivering innovative, durable, and environmentally sound building solutions tailored to the unique needs of the agricultural industry. Their mission is to provide comprehensive design and construction services that ensure operational efficiency and longevity for their clients.

Primary Area of Focus

The company's primary focus is on the construction of dry and liquid fertilizer storage facilities, including retail plants, river terminals, deep-water ports, unit train hubs, and agronomy supercenters. These facilities are designed to enhance the storage, handling, and distribution of fertilizers, playing a crucial role in the agricultural supply chain.

Industry Significance

Stueve Construction holds a dominant market share of approximately 15% in the fertilizer storage construction market. Their innovative approach, including the invention of the "rodless" dry fertilizer storage facility, has set industry standards and contributed significantly to the advancement of agricultural infrastructure.

Key Strategic Focus

Core Objectives

Innovation: Continuously developing and implementing cutting-edge construction techniques to meet the evolving needs of the agricultural sector.

Quality Assurance: Ensuring that all projects meet the highest standards of quality, safety, and environmental responsibility.

Customer Satisfaction: Providing tailored solutions that align with the specific requirements of each client, fostering long-term partnerships.

Specific Areas of Specialization

Fertilizer Storage Facilities: Designing and constructing facilities that accommodate both dry and liquid fertilizers, ensuring safe and efficient storage.

Port Terminals: Developing infrastructure for the import and export of fertilizers, including deep-water ports and river terminals.

Agronomy Centers: Building centers that support agricultural services, including fertilizer blending and distribution.

Key Technologies Utilized

Rodless Fertilizer Storage Design: An innovative design that eliminates the need for rods in storage facilities, enhancing safety and efficiency.

Automated Blending Systems: Implementing advanced systems for precise fertilizer blending, improving product quality and consistency.

Environmental Control Systems: Utilizing technologies that minimize environmental impact, such as dust control and spill containment measures.

Primary Markets Targeted

Agricultural Retailers: Cooperatives and independent retailers requiring efficient fertilizer storage and distribution facilities.

Fertilizer Manufacturers and Distributors: Companies needing large-scale storage solutions for raw materials and finished products.

Port Authorities: Entities seeking infrastructure for the import and export of fertilizers.

Financials and Funding

Funding History

Stueve Construction has attracted significant investment to support its growth and innovation initiatives. Notable funding events include:

October 2024: Capitala Group announced a debt and equity co-investment in Stueve Construction, providing capital to assist in the acquisition and support the company's next phase of growth.

October 2024: Brookside Capital Partners invested in Stueve Construction, recognizing the company's leadership in fertilizer storage construction and its innovative approach.

Total Funds Raised

While specific figures are not publicly disclosed, these investments indicate a strong financial foundation supporting Stueve Construction's operations and expansion plans.

Utilization of Capital

The capital raised is intended to:

Support Growth: Facilitate the expansion of operations and capacity to meet increasing demand.

Enhance Innovation: Invest in research and development to advance construction technologies and methodologies.

Strengthen Market Position: Expand the company's presence in existing markets and explore new opportunities.

Pipeline Development

Key Pipeline Candidates

Stueve Construction's project pipeline includes:

Retail Fertilizer Plants: Ongoing projects to build state-of-the-art facilities for agricultural retailers.

Port Terminals: Developing infrastructure for fertilizer import and export, including deep-water ports and river terminals.

Agronomy Centers: Constructing centers that support fertilizer blending and distribution services.

Stages of Development

Projects are typically in various stages, from conceptual design and engineering to construction and commissioning.

Target Conditions

The facilities are designed to handle a range of fertilizers, including dry and liquid forms, ensuring safe and efficient storage and distribution.

Anticipated Milestones

Completion of Ongoing Projects: Timely delivery of current projects to meet client needs.

Expansion into New Markets: Establishing a presence in additional regions to serve a broader client base.

Technological Platform and Innovation

Proprietary Technologies

Rodless Fertilizer Storage Design: An innovative design that eliminates the need for rods in storage facilities, enhancing safety and efficiency.

Significant Scientific Methods

Automated Blending Systems: Implementing advanced systems for precise fertilizer blending, improving product quality and consistency.

Environmental Control Systems: Utilizing technologies that minimize environmental impact, such as dust control and spill containment measures.

Leadership Team

Executive Profiles

Reynold Franklin – Chief Executive Officer

Reynold Franklin has been with Stueve Construction since 1999, holding various positions in engineering, project management, and technical standards development. Appointed CEO in September 2015, he holds a PhD in Civil Engineering from West Virginia University and an MBA from the University of Colorado.

James Bishop – Transitioning to CEO

With over 34 years of experience in engineering and construction operations, James Bishop joined Stueve in 2021. He has held senior operational roles, including nearly 30 years at Chicago Bridge & Iron Company (CB&I). He holds a Bachelor of Science in Civil Engineering from Iowa State University and an MBA in Project Management from Western Carolina University.

John Muehring – Vice President of Operations

John Muehring brings over 20 years of experience in engineering and construction. Prior to joining Stueve in 2025, he served in key roles both in an owner’s capacity and at an industrial Engineering, Procurement, and Construction (EPC) contractor. He holds a Bachelor of Science in Chemical Engineering from Kansas State University and an MBA with an emphasis in Finance from Iowa State University.

Russell Buscher – Vice President of Engineering

With over 30 years of experience, Russell Buscher leads the Engineering and Drafting team at Stueve Construction. He holds a Bachelor of Science in Engineering from Iowa State University and is a licensed Structural Engineer in many states throughout the U.S.

Laremy Seelow – Vice President of Sales and Marketing

Laremy Seelow is responsible for sales, marketing, and growth efforts at Stueve Construction. He has a rich history in agricultural retail, starting from an entry-level position and advancing through various roles, ultimately reaching the position of Vice President of Agronomy.

David Bauman – Vice President of Field Operations

David Bauman manages and oversees all field operations at Stueve Construction. He started his career at Stueve as a Construction Crew member and has advanced to his current role, bringing practical knowledge and skills in managing projects.

Market Insights and Competitor Profile

Market Dynamics

The fertilizer storage construction market is experiencing growth, driven by the expansion of agricultural activities and the need for efficient fertilizer distribution. The market is projected to reach $900 million by 2027, indicating significant opportunities for companies like Stueve Construction.

Competitor Analysis

Fletcher Construction: A public company with a diverse portfolio, including infrastructure and building projects.

BALI Construction: A private company specializing in construction services, with a focus on agricultural and industrial facilities.

Strategic Collaborations and Partnerships

Stueve Construction has formed strategic partnerships to enhance its market position and innovation capacity.

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