Russel Metals has announced it will acquire the operating assets and facilities of DuBose Steel in Roseboro and Fayetteville, N.C.
DuBose Steel is a full-line structural steel service center operation with value-added processing capabilities serving customers in the Southeast and along the East Coast. The company posted revenues of $66.8 million in its last fiscal year.
Dubose Steel President Tom Harrington and other members of his management team will remain in place.
The acquisition is a strategic fit for Russel Metals, the second largest metals distributor in Canada, and will allow the company to expand its U.S. footprint, said Russel President and COO John Reid.
“We are very excited to announce that we have entered into this agreement with Russel Metals. We believe our customers will be well-served by this transaction and we are eager to join Russel’s team,” said Harrington.
The transaction is expected to close in the second quarter.
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