Service Centers

Flack Global Metals closes on Pacesetter deal

Written by Ethan Bernard

October 2, 2024

Flack Global Metals (FGM) has closed on its majority ownership stake in Pacesetter Steel Service.

Terms of the deal, first announced in June, were not disclosed.

Pacesetter operates service center locations in Atlanta, Chicago, and Houston. FGM is a hybrid industrial company that buys, sells, manufactures, trades, and invests in flat-rolled steel.

“FGM’s investment thesis revolves around growing the Pacesetter platform while keeping Pacesetter a stand-alone vertical within the FGM platform,” Flack said in a statement on Wednesday.

The company noted the investment marks the first addition of a distribution and processing service center to its portfolio of direct equity investments.

Atlanta-based Pacesetter’s joint venture with Nippon Steel Trading Americas Inc., NSPS Metals LLC, was not a party to the transaction. Its assets were not included in the Pacesetter deal. Note also that Nippon Steel Trading Americas is an affiliate of Nippon Steel.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

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