Texas Iron and Steel Acquires Commerce Steel
By Metal Center News Staff
on Apr 26, 2018
Longview, Texas-based Texas Iron and Steel has completed its first acquisition, purchasing fellow Texas service center Commerce Steel in a $2 million deal. The Dallas-based Commerce Steel is a service center with $4 million in gross sales annually
“It’s been something we’ve been looking at. We sell a lot of strips to other service centers, and this puts us next to some of the bigger guys,” says Matt Wright, CFO at Texas Iron & Steel. “It gives us a little more market and expands our local service center operation.
Texas Iron & Steel operates a 25,000-square-foot warehouse in Longview, distributing sheet and plate, long products, expanded metal, and pipe and tube into Texas and Oklahoma. It offers saw cutting, torch cutting and cut-to-length with edging.
The company has approximately $50 million in revenue annually.