Ryerson to Acquire Central Steel & Wire

Central Steel & Wire has a rich history and valued brand spanning more than 100 years, offering a wide selection of products and capabilities, with a commercial portfolio centered on bar, tube, plate and sheet products. The service center operation employs approximately 900 workers staffing six locations across the central and eastern U.S. producing annual revenue of around $600 million. Central Steel & Wire will continue to operate under its current brand name following the closing of the transaction.

“Since 1909, Central Steel & Wire has cultivated a loyal customer following as an industry standard bearer of customer service,” said Eddie Lehner, Ryerson’s President and Chief Executive Officer. “Ryerson’s acquisition of Central Steel & Wire into the Ryerson family of highly valued industrial metal distribution and processing companies takes Ryerson’s ability to provide great customer experiences to another level. By supporting and further developing the Central Steel & Wire brand in the marketplace, Ryerson continues along a smart growth trajectory that we expect to add meaningfully to shareholder value in the years to come.”

The transaction has been approved by the companies’ boards and a majority of shareholders, but is still subject to regulatory approval. The parties expect to close the deal during the third quarter.

Ryerson is a leading value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico and China. Founded in 1842, Ryerson employs around 3,700 in approximately 100 locations. It reported 2017 revenues of $3.4 billion.

Ryerson has been active on the acquisition front recently, announcing its purchase of Fanello Industries, a Lavonia, Ga., service center and processor, in April.