Private Equity Group Acquires Cumberland Diversified Metals
By Metal Center News Staff
on Jun 15, 2023
Slate Capital Group, a private equity investment group based in Baltimore, Nashville and Cincinnati that partners with lower-middle-market companies, has acquired Cumberland Diversified Metals, a value-added distributor and broker of specialty metals.
Founded in 1985, Cumberland Diversified Metals is a distributor of stainless steel, aluminum, titanium and nickel products based in Cleveland. It offers cut-to-length, precision blanking, shearing, stretcher leveling, stand extension, slitting, polishing and PVC.
“Cumberland Diversified Metals already had decades of industry knowledge and some of the deepest relationships in the specialty metals industry. We are proud to work with our vendors and customers, helping them solve their important supply challenges. We believe we provide the best customer service in the business,” said Alex Newman, CEO, Cumberland Diversified Metals. “Now that we are partnered with Slate Capital Group, we have a financial partner who can assist us in achieving our ambitious growth plans. We are really excited about our future together.”
“We believe that the demand for specialty metals like aluminum and stainless steel will continue to grow and that customers will need a partner to secure the right supply at the right time for the right price. Cumberland Diversified Metals is the best in the business and provides valuable solutions for its vendors and customers,” continued Corcoran. “We are excited to be part of their ongoing growth plan. And above it all, it was great to complete an investment in Ohio so soon after expanding Slate Capital Group to Cincinnati.”