Lapham-Hickey Steel has acquired Alkar Steel and Processing, Warren, Mich. ASAP operates a 125,000-square-foot facility outside Detroit, offering a range of slitting capabilities.
Alkar Steel and Processing, founded in 1975, is a market leader in cold-rolled, galvanized, high-carbon and hot-rolled pickled and oiled products.
Alkar Steel and Processing will operate as a division of Lapham-Hickey Steel, with the existing sales and operating teams providing customers the service they have been accustomed to since 1975. Patrick Fayad will remain president of Alkar Steel and retain a minority stake in the Alkar division.
“The Hickey family has had a long-standing relationship with the Fayad family for several decades. Their family-owned culture is a perfect fit with Lapham-Hickey’s vision and values. We look forward to supporting additional growth opportunities for Alkar’s customer base for many years to come and we welcome the entire Alkar team to the Lapham-Hickey family,” said Brian Hickey, president of Lapham-Hickey Steel
“Today is one of the most exciting days in our 50-year history. As a second-generation owner, I am so proud of what our family and the entire Alkar team has accomplished. This acquisition will open doors for ASAP to better support our customers locally and those with plants across multiple regions in the country,” Fayad said. “The leadership at Lapham-Hickey has values and culture than align closely with ASAP’s. The entire ASAP team continues fully intact and remains committed to servicing our customers and growing our
business in Michigan and across the U.S.”
Lapham-Hickey Steel is a fourth-generation family owned and operated full-line carbon service center that was founded in 1926 and is headquartered in Bedford Park, IL. With 13 total locations throughout the Midwest, East Coast, Southeast and Mexico, Lapham-Hickey is an industry-leading supplier of slit coil, sheet, plate, bars, tubing and fabricated products.