Company Announcements
January 12, 2026
International private equity firm buys Ohio’s Greer Steel
Written by Laura Miller
An international private equity holding company based in Germany, Mutares SE & Co., has purchased Greer Steel Co. of Dover, Ohio.
Employing ~110 people, Greer Steel is a processor specializing in cold-rolled steel strip.
In 2024, the Ohio company shipped 18,000 tons of products, with 60% of sales going to the automotive sector. Other customers include the service center, hardware, hand tool, and stamping industries. It primarily serves the US market, with just 4% of its 2024 sales going to Canada. Mutares lists its sales volumes at €34 million (~US$39.7 million).
Munich-based Mutares announced the completed acquisition of the steel company from Greer Industries Inc. on Jan. 2. Terms of the deal were not provided.
Greer Industries is based in Morgantown, W.Va. It operates lime, limestone, and asphalt companies, among others, in the state of West Virginia.
“The acquisition of Greer Steel is a strategic move for Mutares, providing a platform for growth in the North American steel processing market and opening up cross-selling opportunities with automotive customers,” the German company said in a statement.
Mutares said it plans to support Greer Steel with operational improvements, inventory optimization, and targeted investments, including an ERP system migration and integration.
The portfolio of the international PE firm encompasses a range of industries, from automotive, engineering, and infrastructure to goods and services. Greer is the first steel company in its chemicals & materials segment.
“We look forward to supporting the team in realizing its full potential and capitalizing on the favorable market trends in the current US trading environment,” said Johannes Laumann, Mutares’ chief information officer. “This will further strengthen the company’s competitive position.”
