ONEX, Inc. Expands into New York with Acquisition of Upstate Refractory Services
Six decades strong: employee-owned refractory services leader expands footprint through strategic acquisition
Erie, Pennsylvania – January 12, 2026 – ONEX, Inc., an employee-owned refractory services provider celebrating 60 years in business, has acquired Upstate Refractory Services, Inc., extending its operational footprint into New York and reinforcing its ability to further serve industrial customers across the greater Northeast region.
The acquisition is effective January 1, 2026. Upstate Refractory Services will operate as ONEX’s Upstate New York location, with integration occurring thoughtfully over time to ensure continuity for customers and employees.
ONEX designs, builds, services, and supplies materials and parts for industrial furnaces, forges, and high-temperature processing environments. The addition of the Upstate location enhances ONEX’s customer coverage and supports its mission to deliver responsive, relationship-driven service backed by skilled local teams.
Image 1: (from left to right) Dave Wetmore, Former Owner of Upstate Refractory passing the torch to Patrick Laskey, President of Onex
A Strategic Expansion Rooted in Shared Values
Upstate Refractory Services began in 2002, and has developed a strong customer presence, known for its “One Stop Shop” approach offering complete refractory solutions, excellent craftsmanship, and industry leading customer service. Since inception, Upstate has earned a strong reputation and built trusted, long-standing relationships with its customers.
Image 2: Patrick Laskey, President of Onex
As Dave and Diane Wetmore approached their retirement, they prioritized a succession plan that would safeguard employee futures, grow customer service reliability, and protect the values that built their business. With a people first mindset, they chose the employee ownership model with complimentary offerings from ONEX.
“Upstate’s decision to sell to ONEX reflects a shared belief in long-term thinking and people-centric leadership,” said Patrick Laskey, President and CEO of ONEX, Inc. “This acquisition allows us to grow responsibly while supporting our team and customers who made Upstate what it is today.”
Leadership Continuity at the Upstate Location
The Upstate team will continue operating with its existing leadership in place. Krista Nolan, daughter of the founders, has been appointed General Manager of the New York location. Her brothers, Bryan and Jason Wetmore, will also remain in key operational and sales roles.
“For our customers, the day-to-day experience doesn’t change,” said Nolan. “The same people, the same standards, and the same commitment to quality remain. What’s new is the added support, resources, and long-term expansion opportunity that come with being part of an employee-owned organization.”
Strengthening Employee Ownership and Regional Service Capabilities
The acquisition supports ONEX’s ESOP (Employee Stock Ownership Plan) structure, ensuring that business growth directly benefits the team doing the work. By adding a strategically located facility and an experienced team, ONEX strengthens its ability to serve its customers with high-quality refractory construction services, precast shapes, new & retrofit industrial furnaces, custom ceramic fiber components, and refractory material sales.
The expansion also positions ONEX to support the increasing demand for refractory solutions expertise as U.S. manufacturing and infrastructure investments continue to grow.
Looking Ahead
Integration efforts will continue throughout 2026, with initiatives including updates to brand alignment and long-term strategic planning across ONEX locations. These efforts will be rolled out deliberately to ensure operational continuity and a seamless experience for customers and employees.
For more information about ONEX’s full range of services, visithttps://www.onexinc.com. For information about Upstate Refractory’s services, visit https://upstaterefractory.com/.
Summary
ONEX, Inc. has acquired Upstate Refractory Services, expanding its operations into New York State and reinforcing its commitment to employee ownership, customer service, and responsible growth. The Upstate team will remain in place, maintaining trusted relationships while gaining long-term support as part of ONEX.
About ONEX:
Onex, Inc. specializes in refractory construction and industrial furnace solutions. Their expert OEM team will design, build, and install the furnace to include the refractory lining, combustion equipment and controls, all piping for air and gas, and program the unit for peak performance. Onex serves the forging, and heat treat industries.
Onex’s combustion and refractory services also include tune-ups, repairs, and retrofits as well as engineered precast shapes. Employee-owned and community-centered, Onex is on a mission to REIGNITE the American Dream!
About Upstate Refractory Services (URS):
Whether it’s designing and installing a next-generation refractory system or updating or repairing existing equipment, URS has the expertise, materials, technology, and – most importantly – experience to get industrial furnaces up and running with minimal cost and minimal downtime.
Upstate Refractory Services, Inc. was established in 2002 and has grown into a dynamic leader in refractory precast, refractory shapes, material sales, furnace-related components, custom industrial furnaces, and installation services. URS is a family-owned and operated company with an all hands approach to customer service and proven track record to exceed customer expectations.
