Business
Russel Metals to Acquire Boyd Metals
Russel Metals to Acquire Boyd Metals Canada NewsWire Five Service Cen...
About this update from Russel Metals Inc.
[{"type":"text","content":"\n \n \n \n Russel Metals to Acquire Boyd Metals\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Five Service Centers in U.S. South - Complementary to Russel's Existing Footprint\n \n \n \n US$110 Million\n \n Purchase Price - Attractive Return on Capital\n \n \n Financed from Existing Cash/Bank Facility\n \n \n \n \n TORONTO\n \n ,\n \n Nov. 4, 2021\n \n /CNW/ - Russel Metals Inc. (TSX: RUS) announces that it has entered into an agreement to acquire a group of companies that operate as Boyd Metals (\"Boyd\") for\n \n US$110 million\n \n , subject to closing adjustments.\n \n \n \n Boyd\n \n operates five service centers in\n \n Fort Smith\n \n (\n \n Arkansas\n \n ),\n \n Little Rock\n \n (\n \n Arkansas\n \n ),\n \n Joplin\n \n (\n \n Missouri\n \n ),\n \n Oklahoma City\n \n (\n \n Oklahoma\n \n ) and\n \n Tyler\n \n (\n \n Texas\n \n ).\n \n Boyd's\n \n product mix is primarily comprised of carbon steel products, but also includes stainless steel, aluminum and other related industrial products.\n \n Boyd\n \n also offers value-added processing services and has invested to expand such capabilities over the past several years. For the twelve months ended\n \n September 30, 2021\n \n ,\n \n Boyd\n \n generated revenues of\n \n US$244 million\n \n and Adjusted EBITDA\n \n 1\n \n of\n \n US$39 million\n \n .\n \n \n \n John Reid\n \n , President and CEO of Russel commented, \"Over the past 15 months, we have significantly repositioned our business portfolio with the strategic objectives of enhancing returns, increasing margins and reducing volatility. As part of this strategy, we have: (i) repatriated approximately\n \n $300 million\n \n of capital through the monetization of our O...