Olympic Steel Signed New Deal To Acquire Texas Steel Distributor

SEATTLE (Scrap Monster): Olympic Steel Inc. announced its decision to acquire the assets of Action Stainless & Alloys, Inc., a Texas-based leading steel distributor. The terms of the all-cash purchase deal were not disclosed. This is the fourth major acquisition by Olympic Steel over the past three months.

The acquired business will be integrated into Olympic Steel’s specialty metals business segment. Incidentally, Action Stainless & Alloys, Inc. is a full-line distributor of stainless steel and aluminum plate, sheet, angles, rounds, flat bar, tubing and pipe. The company had reported sales in excess of $40 million during the previous year.

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Richard T. Marabito, Chief Executive Officer, Olympic Steel noted that the history of strong business performance from Action Stainless delivers on the company’s growth strategy. The transaction would lead to continued growth of its specialty metals business, which has been a major element of its strategic growth plans, he added.

The acquisition will add approximately 145,000 square feet of warehouse space across five facilities in Dallas and Houston, Texas; Springdale, Arkansas; Rock Hill, South Carolina; and Kansas City, Missouri, which will continue to operate under its established brand. The entire Action Stainless & Alloys, Inc. led by Lee Martinson will be retained.