Gov. Jay Nixon today announced that Bull Moose Industries, a subsidiary of UK-based Caparo Group, founded by The Rt. Hon. Lord Paul of Marylebone, will expand its North American headquarters in St. Louis and create up to 25 high-paying jobs. The announcement also highlighted the company’s decision to invest in the renovation of the former Missouri Theater Building, which will become home to a multi-use development site and include offices, restaurants and shops, as well as a hotel.
While leading a European trade mission in 2013, the Governor met with Caparo founder Lord Paul and CEO Hon. Angad Paul in London. A similar success story after a 2015 trade mission was announced on May 29 when Italian manufacturer PivaGroup said it would invest $6.4 million and create more than 120 jobs in Ste. Genevieve at its first manufacturing facility in the U.S.
“Bull Moose’s announcement is further evidence that strengthening our relationships with global companies can bring new investments and new jobs to the state,” Gov. Nixon said. “It is also a testament to our top-notch workforce and highly competitive business environment. Bull Moose’s investment will provide high-paying jobs and spur additional economic activity by revitalizing the downtown area. I want to thank Bull Moose Industries and the Caparo Group for their continued and growing commitment to our state and to the City of St. Louis.”
Caparo is a diversified global operation comprised of businesses that supply steel and niche engineering products to a number of industries, including automotive, construction, aerospace, steel conversion and distribution, general engineering and medical, among others.
The company generates more than $1.5 billion in revenue and has more than 60 sites throughout the world. Caparo’s seven manufacturing facilities in North America include one in Gerald, Mo., where it produces and fabricates carbon steel welded tube and pipe products commonly used in construction, agriculture, transportation, and engineering products.
“We have aggressive growth plans that will build on Bull Moose’s strength in engineering and steel tube, while transforming into a diversified manufacturing company,” said Michael Blatz, CEO of Bull Moose Industries. “We expect to add 25 new jobs as we transform the business and move into the new location.”
This expansion also includes the renovation of the Missouri Theater building, the last of Grand Center’s historic buildings to be rehabbed. Along with Lawrence Group CEO Steve Smith, Caparo will invest in the overall development of the facility. The multi-use development is expected to be the future site of a 145-room boutique hotel, a full-service restaurant, two 3,000-square- foot banquet rooms and separate meeting facilities, a ground-floor coffee shop, a bakery and yogurt store, and a 150-vehicle parking lot.
This development is expected to create more than 200 additional jobs in the area. Once complete in Spring 2017, Caparo’s Bull Moose Industries intends to occupy 25,000 square-feet of the newly remodeled space for its divisional headquarters.
“This investment and relocation is a testament to the strong growth and rebirth of St. Louis,” St. Louis Mayor Francis Slay said. “In addition to T-Rex, Cortex and other developments, Grand Center is experiencing a metamorphosis with the continued success of Saint Louis University, the Fox Theatre, Powell Hall, and the MOTO Museum.”
“The St. Louis Regional Chamber worked collaboratively with our economic development partners on this project. The investment in this historic building is an anchor for future development and growth in Grand Center,” said Joe Reagan, President and CEO of the St. Louis Regional Chamber.
Representing approximately one-third of Caparo’s overall revenue, its North American business operates under the Bull Moose Industries flag. Bull Moose, which has had its headquarters in the St. Louis metro area since its founding in 1962, employs approximately 80 people in the area. Bull Moose Industries combines a diversified manufacturing base with strong engineering expertise, helping a wide spectrum of customers overcome challenges in product development, cost control, and performance factors.
To assist Caparo with its expansion, the Missouri Department of Economic Development has offered a strategic economic incentive package that the company can receive if it meets strict job creation and investment criteria. The City of St. Louis and the St. Louis Regional Chamber also are involved with the company’s expansion.