Service Centers
MacArthur Completes Buy of American Metals Supply
May 16, 2023
Buildings supplies distributor MacArthur Co. has completed its acquisition of American Metals Supply.
American Metals, a steel products distributor, will operate as an independent subsidiary with the same team, product line, marketing presence, and locations.
Financial terms of the deal were not disclosed.
“We both have a strong heritage as successful distribution businesses that share an understanding of what it means to be industry leaders,” Barrett Moen, CEO of MacArthur Co., said in a press release.
The companies noted there are almost no areas in the country where the two firms overlap or compete with one another.
Chrissy Nardini will continue as American Metals’ president. However, as a result of the transaction, Steve Hassebrock will transition out of the company, following long-term leadership roles in the firm founded by his father.
“It has been both an honor and a privilege to have worked here for the last 52 years and I have witnessed phenomenal growth and a magical transformation of a company that had a very humble beginning,” Hassebrock said.
American Metals Supply, a wholesale distributor of sheet and coil steel, prefabricated duct and fittings, and a complete line of HVAC products, has nine locations, distributing products in 12 states.
“MacArthur Co. provides us with a compatible culture fit, strong financial fundamentals, and the ability for future employees to continue to achieve financial success,” American Metals’ Nardini said.
St. Paul, Minn.-based MacArthur and its subsidiaries operate in over 50 locations throughout the US.
By Ethan Bernard, ethan@steelmarketupdate.com
Latest in Service Centers
Reliance reports record tons sold in Q1
A factor in the sales was customers buying ahead of tariff-related price increases.
Galv buyers notched strong Q1, but see uncertainty on the horizon
Participants on the HARDI Sheet Metal/Air Handling Council call said underlying demand is solid but there are slower pockets in some markets.
GM names Worthington a 2024 Supplier of the Year
This is the Ohio-based steelmaker’s fourth time winning the award.
Olympic taps Hegler for GM role at Action Stainless
Olympic Steel has named Alex Hegler as general manager for its Action Stainless facility in Rock Hill, S.C.
Olympic opens new Houston facility for Action Stainless unit
Olympic Steel has opened a new facility in Houston to support its Action Stainless business.