Olympic Acquires Berlin Metals
By Metal Center News Staff
on Apr 3, 2018
Olympic Steel, Cleveland, has acquired the assets of Berlin Metals LLC, Hammond, Ind. Terms of the deal were not disclosed. The company will continue to operate under its existing brand, and the management team, including President Roy Berlin, will remain with the business.
Founded in 1967, Berlin Metals has grown to become one of the largest North American service centers, specializing in processing and distributing prime tin mill products and stainless steel strip in slit coil form. It has approximately $50 million in sales.
The company is also a supplier of galvanized, light gauge cold-rolled sheet and strip, plus other coated steels in coil form. It serves customers in the building products, automotive and specialized industrial markets.
"This acquisition adds new products and markets, both of which are central to our growth strategy," said Michael Siegal, chairman and CEO of Olympic Steel, North America’s 13th-largest service center company with 2016 revenues of $1.06 billion. "Berlin Metals also has a growing stainless steel business, compounding our organic growth in these products. With minimal customer overlap, this is a perfect complement to existing operations."
Berlin Metals operates four coil slitters and a cut-to-length line out of a 120,000-square-foot facility in Hammond. Berlin Metals will be included in Olympic Steel's Specialty Metals Flat Products reporting segment, which is led by Andy Markowitz, president of Olympic’s specialty metals division.