Norfolk Acquires O'Neal Flat Rolled Metals Group
By Metal Center News Staff
on Nov 16, 2018
Norfolk Iron & Metal Co., Norfolk, Neb, will acquire O’Neal Flat Rolled Metals LLC. O’Neal is a wholly-owned subsidiary of O'Neal Industries Inc., Birmingham, Ala. The transaction is expected to close by Dec. 31.
Norfolk Iron & Metals was North America’s 24th-largest service center in 2018 in Metal Center News' Top 50, with 2017 revenues of $512 million. O’Neal Industries is the continent’s eighth-largest service center business, with prior-year revenues of $2.3 billion.
O’Neal Flat-Rolled Metals operates eight facilities across the United States, including its headquarters operation in Brighton, Colo. The locations hold more than 650,000 square feet of processing and warehousing capabilities. It offers sheet and coil material, including stainless, aluminium hot-rolled, cold-rolled and galvanized, plus polished and coated materials to suit customer needs.
Before the acquisition, Norfolk operated five locations, offering sheet, plate, long products and tubing as well as advanced value-added services with a growing array of processing equipment.
Headwall Partners LLC and XMS Capital Partners, LLC are serving as financial advisors to O’Neal Industries. No other details of the transaction were announced.