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    August 13, 2024

    Done deal: Russel closes on buy of seven Samuel locations

    Written by David Schollaert

    Russel Metals has closed on its acquisition of seven service center locations from Samuel, Son, & Co.

    Mississauga, Ontario-based Russel said in a statement on Monday that the CA$225 million (US$165.5 million) deal announced in December has been finalized.

    As expected, the company completed the deal in Q3 after the Canadian Competition Bureau confirmed it would not challenge the proposed transaction.

    “We have worked very closely with the Samuel team over the past several months in coordinating for an orderly transition, and we now welcome the Samuel employees to the Russel family,” said John Reid, Russel’s president and CEO.

    The seven 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.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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