 |
|
|
|
|
|
|
|
|
|
|
|
Sept. 5, 2012
Russel to Acquire Oilfield Company Apex Distribution
Russel Metals Inc. has agreed to purchase Apex Distribution, a Canadian oilfield supply company. Russel has until Oct. 31 to close the deal for the Edmonton, Alberta-based company.
Apex Distribution services the energy segment in Western Canada. It had annual revenues of approximately $500 million in its most recent fiscal year. It employs 473 people at 58 branches in Canada and the United States.
"Apex Distribution is the largest Canadian-owned oilfield supply company in Western Canada. The addition of Apex Distribution would complement our existing energy tubular products segment and would provide a new channel of distribution into the Western Canadian oil and gas industry, along with immediate growth opportunities in the U.S. market through Apex Remington, a start-up operation in the U.S.,” says Brian Hedges, president and CEO of Russel Metals.
Apex Distribution will complement Russel’s existing Alberta-based energy operations Comco Pipe and Supply, Fedmet Tubulars and Triumph Tubular & Supply, as well as U.S.-based companies Pioneer Pipe and Spartan Energy Tubulars.
“This is the most exciting opportunity we have seen for our shareholders since our acquisitions of JMS Russel Metals in 2007 and Leroux Steel in 2003. We believe that Apex Distribution's entrepreneurial culture would be an excellent fit with our culture,” Hedges says.
Apex Distribution will continue to operate as a standalone unit, led by Don White, its current president and CEO. “We are excited about our opportunity to contribute to the Russel Metals group of companies. Our combination accomplishes our shareholders' objectives, while offering our employees and stakeholders advantageous future opportunities available through the strength and diversity of one of the largest metals distribution companies in North America," White says.
|
|
|
|
|
Commentary and analysis on the metals market from Editor Tim Triplett
More...
Subscribe to MCN"s e-newsletter.
More...
|
|
|
 |
| Business Practices and Technologies
|
|
|
 |
|
Business Solutions for Service Centers by experts in their fields.
More...
The Cutting Edge, Cutting and Sawing Equipment, a service center technology supplement to Metal Center News
More...
Systems Designed with Metals in Mind: What Service Centers Should Know About Today's Software Solutions
More...
|
|
|
|
|
All the latest products for the Metal Service Center Industry
More...
TRUMPF TruLaser Improves Bevels, Welds
More...
Behringer Offers High-Production Saw for Pipe, Bar
More...
Miyachi Unitek Offers 5-Axis Fiber Laser
More...
|
|
|
|
|
2012 Directory of Master Distributors
Not Published on This Web site
The Metal Center News Directory of Master Distributors—distributors who sell to other distributors—is an invaluable tool for service centers seeking new sources for special or hard-to-find products. Master distributors play an important role in the marketplace, giving service centers an alternative to buying in mill quantities and helping to remove redundant and excess inventories from the distribution channel.
Print copies are available for $85 U.S. for each copy. Download Order Form.
2013 Directory of Toll Processors
Not Published on This Web site
Metal Center News' annual toll processing directory is a simple-to-use resource to help companies locate service providers that can meet their specific processing needs.
Print copies are available for $85 U.S. for each copy. Download Order Form.
|
|
|
|
|
|
|
|
|
|
|
|