Service Centers
Russel Completes Purchase of Boyd Metals
Written by David Schollaert
December 3, 2021
Canadian distributor Russel Metals finalized its purchase of Boyd Metals, expanding its U.S. footprint. The deal for the Fort Smith, Ark.,-based service center cost $110 million and covers all of Boyd’s assets, the company said.
Boyd operates five steel service centers located in Arkansas, Missouri, Oklahoma, and Texas. They deliver a product mix primarily comprised of carbon steel products. The company also offers stainless steel, aluminum and other industrial products and value-added processing services.
“We are excited to have the Boyd business as part of our operating platform as we welcome Tom Kennon, Brian Newman and all of the Boyd employees to the Russel Metals family,” said Russel President and CEO John Reid.
Boyd’s revenue for the fiscal year ended Sept. 30 totaled $244 million and adjusted EBITDA was $39 million, the company said.
Russel Metals is one of the largest metals distributors and processors in North America.
By David Schollaert, David@SteelMarketUpdate.com
David Schollaert
Read more from David SchollaertLatest in Service Centers
Ryerson logs Q1 loss, but more stability seen in sheet
Ryerson swung to a loss in the first quarter of 2024, but the company’s chief executive sees less volatility in the sheet steel market.
Reliance earnings fall 21% in tough pricing environment
Reliance Inc.’s earnings slumped in the first quarter of 2024, but the company expects better than normal seasonal recovery in demand in the second quarter.
Galvanized buyers report stable demand in quiet market
Galvanized buyers reported steady demand and ample supply this week as pricing momentum has shifted, potentially pointing down. Service centers, distributors, and manufacturers who are members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) association met virtually on Tuesday, April 23, for the monthly meeting of HARDI’s Sheet Metal/Air Handling Council. Sentiment was noticeably […]
Lapham-Hickey buys Crystal Steel
Lapham-Hickey Steel has acquired the operating assets of Crystal Steel Corporation of Middleton, Mass., for an undisclosed sum.
Russel’s buy of Samuel locations faces regulatory hurdle
Russel Metals Inc.’s planned purchase of seven service centers in western Canada from Samuel, Son & Co. has been delayed.