SCM Industries Acquires Service Center Metals
By Metal Center News Staff
on Jul 16, 2019
SCM Industries has acquired majority ownership of Service Center Metals. SCM Industries is an investment entity affiliated with the Riverstone Group, a Richmond, Va.-based company.
SCM, based in Prince George, Virginia, is an aluminum extruder that also operates a state-of-the-art casting plant. Founded by three aluminum industry veterans in 2002, the greenfield company now has 247 employees with annual revenue in excess of $225 million.
“We believe SCM Industries is the ideal partner for Service Center Metals and the fact they’re local makes this partnership all the more special. For both our employees and customers, remaining independent and keeping our ‘Can Do’ company culture intact was an absolute requirement,” said Scott Kelley, president and CEO of Service Center Metals. “With SCM Industries, we know that will happen. We’re also very excited that SCM Industries is clearly committed to help us aggressively pursue our growth plans, several of which are already under way.”
“We are pleased to have the opportunity to invest in one of the area’s outstanding companies. The SCM management team and employees exemplify true entrepreneurial success. We look forward to assisting them as they expand capacity and strengthen their leadership position in the aluminum extrusion market,” said a release from SCM Industries.