Mississauga, Ont.—Russel Metals Inc. has acquired Alberta Industrial Metals Ltd., a metals distribution and processing service center located in Red Deer, Alberta, for $30 million.
The acquisition includes the operating assets as well as the land and buildings. Revenues are approximately $30 million.
“Alberta Industrial Metals is a market leader in their region and their cut-to-length processing capabilities compliment our Alberta operations. The current management team will continue to lead Alberta Industrial Metals,” said Brian Hedges, president and CEO of Russel Metals.
Mississauga, Ont.-based Russel Metals operates metals service centers, builds energy tubular products and runs steel distributors in Canada and the Southeastern and Midwestern U.S.The company acquired Siemens Laserworks Inc. in May 2012.