Service Centers

Norfolk Iron & Metal to Acquire O’Neal Flat Rolled Metals

November 18, 2018

Norfolk Iron & Metal Co., a full-line steel service center, and O’Neal Industries Inc. (ONI), the largest family-owned group of metals service centers in the United States, have entered into a definitive agreement in which Norfolk Iron will acquire O’Neal Flat Rolled Metals, LLC, a wholly-owned subsidiary of ONI. The companies expect to close the deal by the end of the year.

The companies declined further comment until after the transaction closes. But the deal between two of the service center industry’s largest family-owned firms is apparently a regional play that will strengthen Norfolk Iron’s foothold in the Midwest. Norfolk Iron already has five locations, in Norfolk, Neb.; Durant, Iowa; Rock Island, Ill.; Emporia, Kan.; and Greeley, Colo. Upon closing of the deal, it presumably will take over O’Neal facilities in Boise, Idaho; Ogden, Utah; Las Vegas, Nev.; Brighton, Colo.; Albuquerque, N.M.; New Century, Kan.; and Garland, Texas. Outside the region, O’Neal Flat Rolled also has a facility in Monroe Twp., N.J.

Besides long histories of successful family ownership, both companies have a strong focus on value-added processing. Norfolk Iron & Metal offers customers sheet, plate, long products and tubing, as well as advanced value-added services with a growing array of processing equipment. O’Neal Flat Rolled Metals offers carbon and non-ferrous sheet and coil products including hot rolled, cold rolled, galvanized, stainless and aluminum, as well as painted, polished and coated material. Its services include blanking, leveling, polishing, shearing, and slitting, among others.

O’Neal Industries, founded by the O’Neal family in 1921, operates more than 80 facilities throughout North America, Europe and Asia, generating revenues of approximately $2.6 billion in 2018. It was ranked No. 8 in this year’s Metal Center News Service Center Top 50. Norfolk Iron & Metal, founded in 1908 by the Robinson family forebears, was ranked No. 24 by MCN with projected 2018 revenue of $650 million.