Service Centers

Russel’s purchase of Samuel facilities gains government approval
Written by Laura Miller
June 4, 2024
Russel Metals has received regulatory approval from the Canadian government to proceed with its planned acquisition of seven service center locations from Samuel, Son, & Co.
Mississauga, Ontario-based Russel said on Tuesday that it received a “no-action” letter from the Canadian Competition Bureau confirming that the agency does not intend to challenge the proposed transaction.
Therefore, the CA$225 million (US$165.5 million) deal, which was announced in December, is now expected to close in the third quarter.
“We are pleased to have obtained regulatory clearance, as we think the acquisition will be favorable for our customers, suppliers, employees, and the communities in which we operate,” said John Reid, Russel’s president and CEO.
The Samuel facilities included in the transaction are in Winnipeg, Manitoba; Calgary and Nisku, Alberta; and Langley and Surrey, British Columbia, in Canada; and Buffalo, N.Y.; and Pittsburgh, in the US.

Laura Miller
Read more from Laura MillerLatest in Service Centers

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.

Klöckner to sell seven US locations to Russel, one to Service Steel Warehouse
German service center Klöckner and Co. has agreed to sell seven of its US locations to Canadian service center Russel Metals Inc. for approximately $119 million, the companies said in press releases on Sunday.

Worthington Steel’s earnings, sales rise in fiscal Q1’26
Worthington Steel saw a strong first quarter to kick off its fiscal 2026 as both profits and sales notched increases.