Service Centers
Done deal: Russel closes on buy of seven Samuel locations
Written by David Schollaert
August 13, 2024
Russel Metals has closed on its acquisition of seven service center locations from Samuel, Son, & Co.
Mississauga, Ontario-based Russel said in a statement on Monday that the CA$225 million (US$165.5 million) deal announced in December has been finalized.
As expected, the company completed the deal in Q3 after the Canadian Competition Bureau confirmed it would not challenge the proposed transaction.
“We have worked very closely with the Samuel team over the past several months in coordinating for an orderly transition, and we now welcome the Samuel employees to the Russel family,” said John Reid, Russel’s president and CEO.
The seven Samuel facilities included in the transaction are in Winnipeg, Manitoba; Calgary and Nisku, Alberta; and Langley and Surrey, British Columbia, in Canada; and Buffalo, N.Y.; and Pittsburgh, in the US.
David Schollaert
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