Distributors/Service Centers
January 3, 2025
Lapham-Hickey acquires Michigan's Alkar Steel
Written by Stephanie Ritenbaugh
Lapham-Hickey Steel has acquired Alkar Steel and Processing of Warren, Mich., for an undisclosed amount.
Alkar Steel and Processing, also known as ASAP, was founded 50 years ago and operates a 125,000-square-foot facility outside of Detroit. It supplies hot- and cold-rolled steel, high carbon spring steel, high strength-low alloy steel, coated and stainless steel products to the metro Detroit area and throughout the Midwest.
The deal is effective Dec. 31.
Alkar will operate as a division of Lapham-Hickey Steel. Patrick Fayad will remain president of Alkar Steel and retain a minority stake in the Alkar division.
“The Hickey family has had a long-standing relationship with the Fayad family for several decades. Their family-owned culture is a perfect fit with Lapham-Hickey’s vision and values,” Brian Hickey, president of Lapham-Hickey, said in a statement.
Lapham-Hickey Steel is a fourth-generation, family-owned and operated full-line carbon service center. Founded in 1926, the Bedford Park, Ill.-based company has 13 locations in the Midwest, East Coast, Southeastern US, and Mexico.
In April, it acquired the operating assets of Crystal Steel Corp., a distributor of hot-rolled, cold-rolled, and coated slit coil in the New England market.
