Business
RUSSEL METALS TO ACQUIRE SEVEN SERVICE CENTERS IN THE US FROM KLOECKNER
Russel Metals Inc. (TSX: RUS) announces that it has entered into an agreement to acquire seven service center locations from Kloeckner Metals Corporation ("Kloeckner") for approximately US$118.6 million, subject to closing working capital and other normal course adjustments. The acquisition includes the working capital, real estate, buildings and equipment, along with the operating personnel for the seven locations. The purchase price is based on the net book value of the working capital which w
About this update from Kloeckner & Co Se
[{"type":"list","items":[{"val":[{"type":"text","content":"Estimated Purchase Price of US$119 Million","length":42,"tagName":"p"}]},{"val":[{"type":"text","content":"Includes Approximately US$67 Million for Working Capital and US$52 Million for PP&E","length":87,"tagName":"p"}]},{"val":[{"type":"text","content":"Complementary Geographic Fit - Six Locations in the US South and One Location in the US Mid-West","length":96,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":225,"olType":false},{"type":"text","content":"TORONTO, Sept. 28, 2025 /CNW/ - Russel Metals Inc. (TSX: RUS) announces that it has entered into an agreement to acquire seven service center locations from Kloeckner Metals Corporation ("Kloeckner") for approximately US$118.6 million, subject to closing working capital and other normal course adjustments. The acquisition includes the working capital, real estate, buildings and equipment, along with the operating personnel for the seven locations. The purchase price is based on the net book value of the working capital which was approximately $67.1 million at June 30, 2025, plus $51.5 million for the property, plant and equipment. ","length":661,"tagName":"p"},{"type":"image","alt":"Russel Metals logo (English) (CNW Group/Russel Metals Inc.)","displaySize":"","headline":null,"caption":"Russel Metals logo (English) (CNW Group/Russel Metals Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":64,"url":"https://media.zenfs.com/en/cnwgroup.com/4b3ff74b56653c6f53593fbe9b7ff3bd"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/GrLKRUmc_vpZ8laQjXteuQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTExMztjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/4b3ff74b56653c6f53593fbe9b7ff3bd","width":400,"height":64}},"href":"https://mma.prnewswire.com/media/2783059/Russel_Metals_Inc__Russel_Metals_to_Acquire_Seven_Service_Center.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Russel will acquire Kloeckner's metals service centers in Dubuque (Iowa), Charlotte (North Carolina), Suwanee (Georgia), Houston (Texas), Austin (Texas), Jacksonville (Florida) and Pompano Beach (Florida). For the period between January 1, 2023 and June 30, 2025, the seven service centers generated average annual revenues of approximately US$500 million and average annual adjusted EBITDA1 ...