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Olympic Steel completes acquisition of Metal Works to expand metal products portfolio

Nov 11, 2024•about 1 year ago

Acquiring Company

Olympic Steel

Acquired Company

Metal Works

Bedford HeightsOakwoodWholesaleBuilding MaterialSolarManufacturing

Description

Olympic Steel, Inc. (Nasdaq: ZEUS) has announced the acquisition of Metal Works, a leading manufacturer of components for various metal products. The acquisition is expected to be immediately accretive and will add state-of-the-art processing equipment and manufacturing expertise to Olympic Steel’s portfolio.

Company Information

Company

Olympic Steel

Location

Bedford Heights, Ohio, United States

About

Founded in 1954, Olympic Steel is a leading U.S. metals service center focused on the direct sale of processed carbon, coated and stainless flat-rolled sheet, coil and plate steel, aluminum, tin plate, and metal-intensive branded products. The Company’s CTI subsidiary is a leading distributor of steel tubing, bar, pipe, valves and fittings, and fabricator of value-added parts and components. Headquartered in Cleveland, Ohio, Olympic Steel operates from 44 facilities in North America, inclusive of the two new locations added as part of the Metal-Fab acquisition. For additional information, please visit the Company’s website at www.olysteel.com.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed