Service Centers

SteelSummit Acquires Magic Steel Sales
Written by Sandy Williams
June 24, 2019
SteelSummit Holdings, a national metals service center and trading company, has acquired Magic Steel Sales.
Magic Steel Sales is a supplier of cold rolled, hot rolled, and coated slit steel products to customers in the eastern United States. The company operates service centers in Grand Rapids, Mich., and Decatur, Ala., and posts sales of approximately $200 million annually. The acquisition expands SteelSummit’s markets and geographical diversity with minimal customer overlap while providing a platform for further strategic growth, said CEO Todd Rollins.
“We are very excited to welcome the Magic Steel employees to the SteelSummit family,” said Rollins.
Joe Maggini, founder and CEO of Magic Steel Sales, added, “Our strategic decision to hand over the reins of Magic Steel after 45 years will provide our company a great foundation for future success.”
SteelSummit Holdings, headquartered in Nashville, Tenn., operates metal service centers in Nashville and Cincinnati, Ohio, as well as three affiliated processing operations in Mexico and a flat rolled metals sales office in Toronto. In addition, the company has a global trading business based in Chicago. SteelSummit is a subsidiary of Tokyo-based Sumitomo Corp.
Indiana steel service center Magic Coil Products, which was a joint venture between Tom Cullen and Magic Steel, is now wholly owned by Cullen.

Sandy Williams
Read more from Sandy WilliamsLatest in Service Centers

Olympic Steel taps Norred for GM role in Georgia
Olympic Steel Inc. has appointed Larry N. Norred, Jr. to the role of general manager for its Buford (fabrication) and Winder (metal processing) operations in Georgia.
Nova Steel acquires Sheffield Steel Products
Canada's Nova Steel has fully acquired all of the assets of Ohio's Sheffield Steel Products.

Jack Biegalski joins Esmark Steel Group as CEO
Jack Biegalski, former president and CEO of American Heavy Plates, has been named the new CEO of the Esmark Steel Group.

Casey to lead Olympic’s manufactured metal products business
National service center chain Olympic Steel has made an internal promotion to fill the newly created role of director of manufactured metal products.

Russel Metals acquiring Kloeckner Metals centers to increase US presence
The seven facilities Russel agreed to purchase are located in Iowa, North Carolina, Georgia, Texas, and Florida.