Maynards Group of Companies has acquired the operations of Netherlands-based Hilco Industrial Acquisitions (HIA). Livonia, Mich.-based Maynards said on Tuesday the deal expands its capabilities in heavy-industrial asset acquisition, valuation, project management, and monetization. The deal will take effect on Oct. 30.
Cleveland-Cliffs Chairman and CEO Lourenco Goncalves said Stelco is not for sale, but he might sell it after operating the company for a period. He said he had come to understand that he was unwelcome in Canada. Separately, in a statement to SMU on Wednesday, Goncalves said he would consider a sale only after Stelco records one year of higher production and brings back all laid-off workers. He clarified it was 175 workers, not 500. He also said he would speak with no potential buyers “real or imaginary” now or during the next calendar year.
Worthington Steel said it did not receive sufficient approval from shareholders of German service center Kloeckner & Co. for a proposed domination and profit and loss transfer agreement (DPLTA). Under German law, a DPLTA gives a parent company the right to issue binding instructions to the management of a subsidiary. Kloeckner held an extraordinary general meeting on Friday, Oct. 23, in Dusseldorf, during which a shareholder vote on the DPLTA took place. At least 75% of the capital represented at the meeting had to vote in favor of the DPLTA for the measure to pass.
Varsteel Ltd. has acquired two additional steel and aluminum service centers in Canada. The Lethbridge, Alberta-based company has added to its portfolio Acier Simmonds of Sherbrooke, Quebec, and Acier Menard of Granby, Quebec. The acquisition builds on Varsteel’s three most recent acquisitions and further expands its market presence in Quebec.
Alter Trading Corp. has purchased the operating assets of Iron and Metals Inc., located in Denver.
Private equity firm SCF Partners announced it has acquired American Piping Products (APP), a pipe and tube distributor headquartered in Chesterfield, Mo.
Worthington Steel marked another step in its takeover of Kloeckner & Co. The Columbus, Ohio-based service center group announced on Sept. 8 that it had signed a domination and profit-and-loss transfer agreement (DPLTA) with Kloeckner. This was pursuant to the rules of the German Stock Corporation Act (AktG). The DPLTA continues the process of integrating the German service center group. This follows Worthington’s successful voluntary takeover offer for Kloeckner in June and the delisting of Kloeckner shares on the regulated market of the Frankfurt Stock Exchange, effective Aug. 12.
Bull Moose Tube Co. has completed its acquisition of Hanna Steel Corp., a producer of structural and mechanical steel tubing.
Lindsay Goldberg, a private investment firm specializing in family-owned and founder-led businesses, will make a significant strategic investment in Alro Steel.
Russel Metals posted record quarterly revenues and shipments in the second quarter, boosted by strong market conditions and the integration of seven Kloeckner Metals Co. facilities.
SPS Companies has acquired Jemison Metals, a carbon flat-roll service center and fabricator headquartered in Birmingham, Ala., from Jemison Investment Company.
Privately owned service center group Triple-S Steel has announced its acquisition of Camden Yards Steel Co., effective July 21.
Cleveland-Cliffs President and CFO Celso Goncalves said no deal was imminent between the company and South Korean steelmaker POSCO because of disagreements over valuation.
Barry Zekelman showed up to last Wednesday’s SMU Community Chat as his usual self: energized, blunt, and unapologetically bullish on the US steel industry.
Worthington Steel has opened the acceptance period for its public delisting tender offer for all outstanding Kloeckner & Co SE shares.
Talks of a potential joint venture between Atlas Tube and Maruichi USA have ended.
Canada’s Varsteel Ltd. has acquired Acier Quebec-Maritimes Inc., a steel and aluminum service center in Riviere-du-Loup, Quebec.
Consolidation continues in the HSS (hollow structural sections) sector, with two big deals announced just this month.
Fresh off the closing of Worthington Steel’s acquisition of Kloeckner & Co., Worthington President and CEO Geoff Gilmore sat down with SMU to reflect on the transaction and outline the path forward.
All regulatory conditions for Worthington Steel's acquisition of Germany-based service group Kloeckner have been met, a spokeswoman told SMU on Wednesday.
Southeast Recycling Group (SRG) said it will acquire the assets of NuCycle LLC, including an automobile shredder and auto parts yard (Carolina Salvage) in Rock Hill, S.C.
Revelar Capital's portfolio firm, Steele Solutions, plans to accelerate the pace of operational growth at newly acquired Maysteel Industries.
POSCO has reiterated its interest in expanding in the US market. The South Korean steelmaker also confirmed it remains in talks with Cleveland-Cliffs Inc.
Worthington Steel has exceeded the minimum share threshold for its acquisition of Kloeckner and Co.
Klockner & Co.'s North American business closed 2025 with its strongest fourth quarter on record, even as pricing and currency effects weighed on revenue. The update comes as Worthington Steel moves close to securing control of the German distributor through an ongoing public takeover bid.
Worthington Steel reduced its minimum acceptance threshold to 57.5% for its purchase of Kloeckner & Co.
Reuters on Monday quoted Worthington Steel President and CEO Geoff Gilmore as saying the company has alternative targets if its deal to acquire Germany-based service center group Kloeckner & Co. doesn't happen.
BlueScope Steel has responded to Steel Dynamics Inc. and SGH’s “best and final” offer to take over the steel company. While not outright rejecting a takeover, BlueScope believes the offer is undervalued and remains open to talks.
Steel Dynamics Inc. and SGH Ltd have upped their bid to acquire BlueScope Steel.
Ryerson Holding Corp. and Olympic Steel Inc. announced they have completed their blockbuster merger, boosting Ryerson’s position as the second-largest service center in North America.