The 2020 Mid-Year Economic Update_long

Steel Service Center Esmark Makes 10th Acquisition

Growing steel service center group Esmark Incorporated, Chicago, IL, has acquired Cleveland, OH-based Independent Steel Company, a privately held processor and distributor of value-added steel products, for $21 million in cash. The acquisition is Esmark’s 10th since it was founded in 2003.


Esmark Chairman and CEO James P. Bouchard said, “The acquisition of Independent Steel demonstrates Esmark’s commitment to growth and investment in the Ohio Valley. This is another important strategic step towards completing our downstream-growth platform between the Pittsburgh-Chicago growth corridor.”


Independent Steel has annual revenues of more than $60 million and serves the construction, tubing manufacturers, consumer products and transportation industries with a range of low carbon cold rolled and galvanized painted steel applications and products. Independent Steel’s service region includes Ohio, Pennsylvania, Michigan, Indiana and New York State.


Bouchard noted that with the acquisition of Independent Steel, annual revenues for the Esmark Steel Services family of companies now exceed $625 million. “We remain debt-free and expect Independent Steel to enhance Esmark’s cash flow as it approaches a proposed merger with Wheeling Pittsburgh Steel Corporation later this year.”

More Breaking News

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.