Business
Russel Metals to Acquire Seven Service Centers in Western Canada and the US NE from Samuel, Son & Co., Limited
Russel Metals to Acquire Seven Service Centers in Western Canada and the US NE from Samuel, Son &...
About this update from Russel Metals Inc.
[{"type":"text","content":"\n \n \n \n Russel Metals to Acquire Seven Service Centers in Western Canada and the US NE from Samuel, Son & Co., Limited\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.prngen2{\nPADDING-RIGHT:0.17em; PADDING-LEFT:0.17em; VERTICAL-ALIGN: BOTTOM; BORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; BORDER-LEFT:black 0pt\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n \n \n \n \n \n Russel Metals to Acquire Seven Service Centers in Western Canada and the US NE from Samuel, Son & Co., Limited\n \n \n Canada NewsWire\n \n \n \n \n \n Estimated Purchase Price of\n \n $225 Million\n \n (Includes\n \n $186 Million\n \n of Working Capital)\n \n \n Five Locations in\n \n Western Canada\n \n and Two Locations in the US Northeast\n \n \n Complementary Geographic and Product Fit\n \n \n Increases Non-Ferrous Business and Extends Value-Added Processing Capabilities in\n \n Western Canada\n \n \n \n Extends Geographic Footprint into US Northeast\n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Dec. 4, 2023\n \n \n /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\n \n $225 million\n \n , 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\n \n $186 million\n \n at\n \n September 30, 2023\n \n , plus the net book value of the related equipment and machinery for\n \n $29 million\n \n plus an additional\n \n $10 million\n \n .\n \n \n Russel will acquire Samuel's metals service centers in\n \n Winnipeg\n \n (\n \n Manitoba\n \n ),\n \n Calgary\n \n (\n \n Alberta\n \n ),\n \n Nisku\n \n (\n \n Alberta\n \n ),\n \n Langley\n \n (BC),\n \n Surrey\n \n (BC),\n \n Buffalo\n \n (\n \n New York\n \n ) and\n \n Pittsburgh\n \n (\n \n Pennsylvania\n \n ).  Samuel will retain its location in Delta (BC) and conduct an ord...