Service Centers

Pritzker to Acquire TMS International Corp—Parent of Tube City IMS

Written by Sandy Williams

The Pritzker Organization, LLC will acquire TMS International Corp. in a $1 billion cash transaction. 

TMS, a global provider of raw material procurement services to the steel industry, provides mill services at 81 customer sites in 12 countries and operates 36 brokerage offices on five continents. TMS is a partner with Onex Corporation which holds 60 percent of the outstanding shares of TMS common stock. TMS subsidiaries include Tube City IMS Corporation, the largest provider of outsourced raw materials for North American steelmakers.  

The Pritzker Organization LLC is a merchant bank focused on investments for members of the Pritzker family. Investment developments include Hyatt Hotels, Triton Container and the Marmon Group. 

Tom Pritzker, Chairman and CEO of The Pritzker Organization, and his sister Gigi Pritzker are heading the purchase of TMS which will become a privately held company following closure of the transaction in the fourth quarter of 2013. 

“TMS is a leading provider of mill, procurement, and logistics services to the steel industry, with an exceptional management team and a proven track record of delivering value to its customers,” said Tom Pritzker.  “We are delighted to have the opportunity for TPO to participate in and support the growth of the business over the long‐term.” 

Dismantlement of the Pritzker family fortune was orchestrated by Tom Pritzker after heirs agreed in 2001 to break up the family empire.  As a result, eleven cousins are now Forbes listed billionaires that have focused on areas from corporate finance to movie making.  Included among the cousins are U.S. Secretary of Commerce Penny Pritzker, Odd Lott Entertainment movie producer Gigi Pritzker, and Thomas Pritzker, Executive Chairman of the Board of Directors of Hyatt Hotels Corp.

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