Russel Metals closes acquisition of 7 service centres

Executive Summary

• Russel Metals Inc. has successfully closed the acquisition of seven metals service centers from Kloeckner Metals Corp. for a total consideration of $102 million (U.S.), subject to normal course working capital adjustments.
• The acquired facilities are strategically located across the United States, including locations in Iowa, North Carolina, Georgia, Texas, and Florida, aimed at expanding Russel Metals' U.S. footprint.
• CEO John Reid highlighted the strategic importance of the deal for expanding geographic presence and integrating Kloeckner employees into the Russel family.

Key Details

• Transaction Status: Closed.
• Acquirer: Russel Metals Inc.
• Seller: Kloeckner Metals Corp.
• Consideration: $102 million (U.S.).
• Adjustments: Subject to normal course working capital adjustments.
• Assets Acquired: Seven metals service centers.
• Locations:
  • Dubuque, Iowa
  • Charlotte, North Carolina
  • Suwanee, Georgia
  • Houston, Texas
  • Austin, Texas
  • Jacksonville, Florida
  • Pompano Beach, Florida

Notable Quotes

• "We look forward to expanding our U.S. footprint in key geographic areas. We welcome the Kloeckner employees to the Russel family." — John Reid, President and CEO, Russel Metals