VRA Advises Tampa Bay Steel Corporation on its Sale to Russel Metals
VRA is pleased to announce the sale of Tampa Bay Steel Corporation ("Tampa Bay Steel" or the "Company") to Russel Metals Inc. (TSX:RUS) ("Russel Metals"). VRA acted as the exclusive financial advisor to Tampa Bay Steel.
Tampa Bay Steel is a leading value-added processor and distributor of various metal products, specializing in carbon steel, stainless steel and aluminum products, as well as state-of-the-art processing services including several variations of cutting, bending, forming, milling and more. The Company serves as a one-stop-shop for diverse, long-tenured customers, offering same-day pick-up, next-day delivery and custom processing services via advanced machinery and in-house transportation capabilities.
"VRA did a fantastic job and was instrumental in guiding us through this process to achieve our desired outcome and find the right new home for Tampa Bay Steel" said Tampa Bay Steel President and CEO, Mark Stewart. "The VRA team was thoughtful, professional and most importantly always represented our best interests. We are very grateful to VRA for what we accomplished together."
Tampa Bay Steel and Russel Metals will work together to continue the Company's market leadership and achieve further growth in Florida and beyond. The partnership will combine Tampa Bay Steel's leading reputation in Florida and experienced team with Russel Metals' financial and strategic resources and appetite for value-added processing services.
Tampa Bay Steel Corporation
Founded in 1980 and headquartered in Tampa, FL, Tampa Bay Steel is a value-added processor and distributor of various metal products for the automotive, marine, aerospace, agriculture and the broader manufacturing & fabrication sectors. The Company leverages a deep supply chain comprised of numerous qualified domestic mills and producers and operates out of a 240k sq. ft. facility containing over 40 lines of heavy processing machinery and multiple bays dedicated to in-stock distribution. Learn more at www.tampabaysteel.com.
Russel Metals
Russel Metals is one of the largest metals distribution companies in North America with a growing focus on value-added processing. It carries on business in three segments: metals service centers, energy field stores and steel distributors. Its network of metals service centers carries an extensive line of metal products in a wide range of sizes, shapes and specifications, including carbon hot rolled and cold finished steel, pipe and tubular products, stainless steel, aluminum and other non-ferrous specialty metals. Its energy field stores carry a specialized product line focused on the needs of energy industry customers. Its steel distributors operations act as master distributors selling steel in large volumes to other steel service centers and large equipment manufacturers mainly on an "as is" basis. Learn more at www.russelmetals.com.