Service Centers
Russel Completes Purchase of Boyd Metals
Written by David Schollaert
December 3, 2021
Canadian distributor Russel Metals finalized its purchase of Boyd Metals, expanding its U.S. footprint. The deal for the Fort Smith, Ark.,-based service center cost $110 million and covers all of Boyd’s assets, the company said.
Boyd operates
five steel service centers located in Arkansas, Missouri, Oklahoma, and Texas. They deliver a product mix primarily comprised of carbon steel products. The company also offers stainless steel, aluminum and other industrial products and value-added processing services.
“We are excited to have the Boyd business as part of our operating platform as we welcome Tom Kennon, Brian Newman and all of the Boyd employees to the Russel Metals family,” said Russel President and CEO John Reid.
Boyd’s revenue for the fiscal year ended Sept. 30 totaled $244 million and adjusted EBITDA was $39 million, the company said.
Russel Metals is one of the largest metals distributors and processors in North America.
By David Schollaert, David@SteelMarketUpdate.com
David Schollaert
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