SURREY – Samuel, Son & Co., Limited, a metals distributor and industrial products manufacturer, announced the initiation of an agreement to sell its Western Canadian and U.S. carbon plate Service Center operations to Russel Metals Inc. (Russel) for an estimated $225 million. The completion of the transaction is contingent upon regulatory approval and fulfillment of other customary closing conditions.
The Western Canada Service Center locations involved in the transaction encompass Winnipeg, MB; Nisku, AB; Calgary, AB; Surrey, BC; and Langley, BC. The U.S. carbon plate branches in Neville Island, PA, and Buffalo, NY, are also part of the transaction.
Colin Osborne, President and CEO of Samuel, commented, “Samuel has a longstanding reputation as one of North America’s leading metals distribution companies. We will continue to build on this legacy with a Service Center business that will now focus on growing customer relationships in Central and Eastern Canada and the U.S., while simultaneously accelerating our investment in additional growth opportunities across the business. We are proud of the strength of the operations we are selling to Russel, which we believe can be made even stronger as part of this newly combined business. On behalf of Samuel, I would like to extend our appreciation to the team members who will be joining Russel for playing such an important role in our Service Center business.”
Samuel will continue to manage their network of Service Center locations throughout North America, alongside its automotive and diversified manufacturing divisions upon the completion of this transaction.
About Samuel: Established in 1855, Samuel, Son & Co., Limited is a family-owned integrated network of metal manufacturing, processing, and distribution divisions. Samuel’s dedicated employees offer metals, industrial products, and related value-added services from multiple locations across North America. Leveraging industry expertise, extensive experience, and the dedication of its workforce, the company strives to contribute to the success of North American businesses on a personalized basis. For more information, please visit Samuel.com.
Source: Samuel.com & Business Examiner Staff