Service Center News

Russel-Samuel Deal Gets OK from Canadian Bureau

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Russel Metals Inc. has received a no-action letter from the Canadian Competition Bureau regarding its previously announced transaction with Samuel, Son & Co. Limited. With the clearance, the company expects to close the transaction in the third quarter.

"We are pleased to have obtained regulatory clearance, as we think the acquisition will be favorable for our customers, suppliers, employees and the communities in which we operate.  We are now working on the next stage of the transaction, as we plan for closing and look forward to welcoming the Samuel employees into the Russel family,” said John Reid, president and CEO of Russel Metals.

At the end of 2023, Russel agreed to acquire seven service center companies in Western Canada and the United States. The estimated purchase price was $225 million.

Under the terms of the agreement, Russel will acquire Samuel's metals service centers in Winnipeg, Manitoba; Calgary and Nisku in Alberta; and Langley and Surrey in British Columbia, plus additional facilities in Buffalo, N.Y., and Pittsburgh.  Samuel also planned to retain its location in Delta, BC, and conduct an orderly shut-down of that facility.

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