Ryerson Holding Corp. agreed to acquire U.S. metal service center Central Steel & Wire Co. in a deal that values the latter at US$140 million, according to a June 5 release.
Central Steel & Wire's portfolio focuses on bar, tube, plate and sheet products. It employs about 900 people in six locations across the U.S., and has annual revenue of approximately US$600 million.
The company plans to use existing and acquired sources of liquidity to fund the acquisition, which is expected to close in the third quarter.
Ryerson is an industrial metals processor and distributor, with operations in the U.S., Canada, Mexico and China.
