Norfolk Iron & Metal to Acquire O’Neal Flat Rolled Metals

Norfolk Iron & Metal Co., a full-line steel service center, and O’Neal Industries Inc. (ONI), the largest family-owned group of metals service centers in the United States, have entered into a definitive agreement in which Norfolk Iron will acquire O’Neal Flat Rolled Metals, LLC, a wholly-owned subsidiary of ONI. The companies expect to close the deal by the end of the year.

The companies declined further comment until after the transaction closes. But the deal between two of the service center industry’s largest family-owned firms is apparently a regional play that will strengthen Norfolk Iron’s foothold in the Midwest. Norfolk Iron already has five locations, in Norfolk, Neb.; Durant, Iowa; Rock Island, Ill.; Emporia, Kan.; and Greeley, Colo. Upon closing of the deal, it presumably will take over O’Neal facilities in Boise, Idaho; Ogden, Utah; Las Vegas, Nev.; Brighton, Colo.; Albuquerque, N.M.; New Century, Kan.; and Garland, Texas. Outside the region, O’Neal Flat Rolled also has a facility in Monroe Twp., N.J.