Service Centers

Commercial Steel Products Acquires Ace Steel Supply

Written by David Schollaert

May 31, 2022

Commercial Steel Products LLC (CSP) has acquired Ace Steel Supply Inc. (Ace) in a stock purchase agreement.

The deal between the two steel service centers represents an alignment of mutual strategic interests, CSP said.

Dallas-based CSP is a supplier of steel products, including tubular, flat-rolled, and structural steel. Its acquisition of Houston-based Ace will enhance its coverage of sheet and plate products, including, stainless, aluminum, galvanized, galvanneal, Galvalume, cold-rolled, and hot-rolled carbon steel.

“We see the purchase of Ace Steel Supply as an integral step in our continued growth and success providing value-added services and products to our customers,” CSP president Thomas Sfikas said. 

“This combination adds significant value to both companies, and we are excited to give the strong team at Ace the resources it needs to enhance its already impressive performance,” said Satish Gupta, founder and CEO of Gupta Capital Group (GCG) and chairman of the SB Group of Companies.

GCG has a diversified portfolio of businesses focused on steel and metals manufacturing and distribution, including SB International, SB Specialty Metals, and CSP.

“We’re delighted to become part of CSP,” said Ace chief operating officer Bruce Margolin. “We will continue working independently while leveraging resources from CSP and Gupta Capital Group. This move will strengthen our internal capabilities and provide immediate benefits to our customers.”

By David Schollaert, David@SteelMarketUpdate.com

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.

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