Service Centers
Commercial Steel Products Acquires Ace Steel Supply
Written by David Schollaert
May 31, 2022
Commercial Steel Products LLC (CSP) has acquired Ace Steel Supply Inc. (Ace) in a stock purchase agreement.
The deal between the two steel service centers represents an alignment of mutual strategic interests, CSP said.
Dallas-based CSP is a supplier of steel products, including tubular, flat-rolled, and structural steel. Its acquisition of Houston-based Ace will enhance its coverage of sheet and plate products, including, stainless, aluminum, galvanized, galvanneal, Galvalume, cold-rolled, and hot-rolled carbon steel.
“We see the purchase of Ace Steel Supply as an integral step in our continued growth and success providing value-added services and products to our customers,” CSP president Thomas Sfikas said.
“This combination adds significant value to both companies, and we are excited to give the strong team at Ace the resources it needs to enhance its already impressive performance,” said Satish Gupta, founder and CEO of Gupta Capital Group (GCG) and chairman of the SB Group of Companies.
GCG has a diversified portfolio of businesses focused on steel and metals manufacturing and distribution, including SB International, SB Specialty Metals, and CSP.
“We’re delighted to become part of CSP,” said Ace chief operating officer Bruce Margolin. “We will continue working independently while leveraging resources from CSP and Gupta Capital Group. This move will strengthen our internal capabilities and provide immediate benefits to our customers.”
By David Schollaert, David@SteelMarketUpdate.com
David Schollaert
Read more from David SchollaertLatest in Service Centers
Steel pricing pressure squeezes Reliance’s Q2 earnings
Reliance Inc. said a faster-than-expected decline in carbon steel prices offset higher shipments in the second quarter.
June service center shipments and inventories report
Flat Rolled = 60.9 Shipping Days of Supply Plate = 59 Shipping Days of Supply Flat Rolled US service center flat-rolled steel supply remained high at the end of June at 60.9 shipping days of supply, according to adjusted SMU data. This translates to 3.05 months of supply in June. At the end of May, […]
Reliance to buy certain assets of Mississippi toll processor
Reliance Inc. has reached an agreement to buy certain assets of Ferragon Corp.'s FerrouSouth division, a toll processing operation based in Iuka, Miss.
Steel Warehouse set to invest $20M in Tennessee expansion
Steel Warehouse plans to expand in Jefferson City, Tenn., with an investment of ~$20 million.
SMU Community Chat: Back to building with Triple-S CEO Gary Stein
Looking out over the American economy, Triple-S Steel Holdings CEO Gary Stein believes what is required doesn’t fundamentally have to do with government policy. “Rather, it’s a mind shift.”