Service Centers
Flack Global Metals closes on Pacesetter deal
Written by Ethan Bernard
October 2, 2024
Flack Global Metals (FGM) has closed on its majority ownership stake in Pacesetter Steel Service.
Terms of the deal, first announced in June, were not disclosed.
Pacesetter operates service center locations in Atlanta, Chicago, and Houston. FGM is a hybrid industrial company that buys, sells, manufactures, trades, and invests in flat-rolled steel.
“FGM’s investment thesis revolves around growing the Pacesetter platform while keeping Pacesetter a stand-alone vertical within the FGM platform,” Flack said in a statement on Wednesday.
The company noted the investment marks the first addition of a distribution and processing service center to its portfolio of direct equity investments.
Atlanta-based Pacesetter’s joint venture with Nippon Steel Trading Americas Inc., NSPS Metals LLC, was not a party to the transaction. Its assets were not included in the Pacesetter deal. Note also that Nippon Steel Trading Americas is an affiliate of Nippon Steel.
Ethan Bernard
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