Service Centers
Triple-S Steel buys West Coast distributor Borrmann Metals
Written by David Schollaert
September 17, 2024
Triple-S Steel Holdings has acquired West Coast steel products distributor Borrmann Metals Co.
The deal includes Borrmann Metals’ assets in Burbank and Riverside, Calif., and in the Phoenix area. The company was previously a subsidiary of Contractors Steel Co.
Further terms were not disclosed.
“We are excited to welcome the Borrmann business into the Triple-S family,” said Gary Stein, CEO of Triple-S.
Stein said Borrmann’s location and services are “highly complementary” to Triple-S Steel’s Intsel Steel West and Maas-Hansen businesses.
“We will put the needed investment in equipment, inventory, and technology into the operations to take advantage of these opportunities we see in the West,” he added.
A West Coast steel distributor, Borrmann Metals stocks plate, pipe and tube, merchant bar, and non-ferrous products.
Houston-based Triple-S Steel is a privately owned steel service center with more than 60 locations in the US, Canada, and Colombia.
Sheppard Mullin served as legal advisor, and Montrose Advisors served as financial advisor to Triple-S in this transaction.
David Schollaert
Read more from David SchollaertLatest in Service Centers
Worthington Steel sees demand improvement after earnings slump
Lower volumes and steel prices dampened Worthington Steel’s profits, but market momentum is building, the metals processor said in its most recent quarterly earnings report.
Galvanized buyers see strong demand, but uncertainty lingers
Demand is up, but tariffs raise concerns
Olympic taps Zito for new VP of development role
Cleveland-based Olympic Steel Inc. has promoted Scott M. Zito to the newly created role of vice president of business development. Zito has been with the company for more than 40 years.
Worthington Steel and Samuel to close Cleveland coil processing JV
Worthington Steel confirmed it is closing the Worthington Samuel Coil Processing (WSCP) facility in Cleveland. WSCP is a joint venture between Worthington Steel and Oakville, Ontario-based Samuel, Son & Co.
Galvanized buyers brace for market shifts amid rising tariffs
One buyer summed up the prevailing sentiment: “Everything is pointing up — pricing, sentiment, order activity. But the real test will come once the immediate reactionary buying subsides. Will there be enough true demand to support these levels through mid-year? That’s the big unknown.”