Mississauga, Ontario-based Russel Metals announced Jan. 2 that it has acquired seven service centers from fellow distributor Kloeckner Metals for $102 million.

The facilities are located in Dubuque, IA; Charlotte, NC; Suwanee, GA; Houston, TX; Austin, TX; Jacksonville, FL; and Pompano Beach, FL.

Russel first announced the deal in late September — noting an estimated $118.6 million purchase price at the time — representing $67.1 million of working capital net book value and $51.5 million for the property, plant and equipment. It also adds approximately 350 employees to the Russel team.

The transaction is now closed.

The seven facilities generated average annual revenues of approximately $500 million and adjusted EBITDA of about $20 million.

“The acquisition of these seven locations is a complementary fit with our existing US locations, as they will tie into our footprint in key regions of Florida/Georgia, Texas, the Carolinas and Iowa/Wisconsin,” Russel President and CEO John Reid said back in September. “In addition, this transaction is a continuation of our long-term growth strategy in the U.S.”

Reid went on to note that the deal moves Russel’s revenue base to more than 50% in the U.S., compared to 39% in 2024 and 30% in 2019. The company also expects operating benefits from the expansion through enhanced inventory management, procurement and re-investments in facility modernizations and value-added equipment over the next two to three years.

Russel Metals’ operates in three business segments: metals service centers (67% of business), energy field stores (23%) and steel distributors (9%), combining for $4.3 billion in total revenue in 2024. The company reported that its year-to-date revenues through the first nine months of 2025 were up 10% from a year earlier, with gross margins up 100 basis points.

Russel’s network of metals service centers carries an extensive line of metal products in a wide range of sizes, shapes and specifications, including carbon hot rolled and cold finished steel, pipe and tubular products, stainless steel, aluminum and other non-ferrous specialty metals. Meanwhile, Russel’s energy field stores carry a specialized product line focused on the needs of energy industry customers, and its steel distributors operations act as master distributors selling steel in large volumes to other steel service centers and large equipment manufacturers mainly on an “as is” basis.