Russel Metals to Acquire Seven Service Centers - Estimated Purchase Price of $225 Million (Includes $186 Million of Working Capital)
- Five Locations in Western Canada and Two Locations in the US Northeast
- Complementary Geographic and Product Fit
- Increases Non-Ferrous Business and Extends Value-Added Processing Capabilities in Western Canada
- Extends Geographic Footprint into US Northeast
TORONTO, Dec. 4, 2023 /CNW/ - Russel Metals Inc. (TSX: RUS) announces that it has entered into an agreement to acquire seven service center locations from Samuel, Son & Co., Limited ("Samuel") for approximately $225 million, subject to closing working capital and other normal course adjustments. The purchase price is based on the net book value of the working capital which was approximately $186 million at September 30, 2023, plus the net book value of the related equipment and machinery for $29 million plus an additional $10 million.
Russel Metals to Acquire Seven Service Centers in Western Canada and the US NE from Samuel, Son & Co., Limited (newswire.ca)