Russel Metals to buy Texas steel and pipe distributor
Acquisition to boost company's presence in Texas, Arkansas, Oklahoma and Louisiana
TORONTO—Ontario-based steel and metals supplier and processor Russel Metals Inc. is expanding its footprint in the southern U.S. with the acquisition of a 93,600 sq. ft. pipe and steel shop in Texarkana, Texas.
The company said Dec. 13 it has agreed to buy Jackson Pipe & Steel for an undisclosed price.
Purchased through Russel Metals’ Hope, Arkansas-based subsidiary, JMS Russel Metals Corp., the deal will expand the company’s presence in Texas and the Four State Area.
“The addition of key employees, their facility and equipment will complement the existing JMS facility in Hope, Arkansas and enable us to enhance our value added services plus increase market share in Texas, Arkansas, Oklahoma and Louisiana, the areas previously serviced by Jackson Pipe,” John Reid the company’s president and COO, said in a statement.
Along with distributing carbon steel, stainless and aluminum piping, Jackson Pipe also offers services such as cutting and machining.
After facing a tough environment in 2014 and 2015, Mississauga, Ont.-based Russel Metals has performed well this year, with shares trading up nearly 70 per cent year-to-date.