Commercial Steel Products LLC Acquires Ace Steel Supply Inc. | Company
DALLAS–(BUSINESS WIRE)–May 31, 2022–
Commercial Steel Products LLC (CSP) has acquired Ace Steel Supply Inc. (Ace) pursuant to a share purchase agreement. This acquisition is an alignment of mutual strategic interests between the two private steel companies.
Thomas Sfikas, president of CSP, said the intent of the acquisition is to enhance each company’s capabilities to better serve customers. “We view the purchase of Ace Steel Supply as an essential step in our continued growth and success in providing value-added services and products to our customers. This will allow us to continue to expand our product diversification while capitalizing on our synergies. This is an exciting decision for both of us, and I look forward to working closely with the entire Ace team.
Satish Gupta, Founder and CEO of Gupta Capital Group (GCG) and Chairman of the SB Group of Companies, said, “I am delighted to welcome Ace Steel Supply to the SB family. This combination adds significant value to both companies, and we’re excited to give Ace’s strong team the resources they need to enhance their already impressive performance.
Bruce Margolin, Vice President and Chief Operating Officer of Ace, said, “We are thrilled to be part of CSP. We will continue to work independently while leveraging the resources of CSP and Gupta Capital Group. This decision will strengthen our internal capabilities and provide immediate benefits to our customers. »
Gupta Capital Group is a single-family office committed to the sustainable growth of a diversified portfolio of operating businesses focused on the steel and metals industries. In addition to its portfolio companies, GCG manages a large, diversified portfolio of investments across a range of sectors, including private equity, real estate and private debt.
Located in Dallas, Texas, Commercial Steel Products LLC is a leading value-added supplier of high quality steel products, primarily focused on tubular products for the oil and gas industry. With over 100 years of experience, CSP has established relationships with customers and suppliers throughout North America and around the world. CSP is committed to providing its valued customers with innovative and creative sourcing solutions and services through strategic partnerships around the world.
Ace Steel Supply, based in Houston, has over 50 years of combined experience in the steel industry. Ace specializes in stainless steel, aluminum, galvanized, galvanic annealed, galvalume, cold rolled and hot rolled carbon steel sheets and plates.
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Gary McNeil – [email protected]
KEYWORD: TEXAS UNITED STATES NORTH AMERICA
KEYWORD INDUSTRY: CONSTRUCTION & PROPERTY OIL/GAS OTHER MANUFACTURING ENERGY STEEL CONSTRUCTION SYSTEMS OTHER CONSTRUCTION & PROPERTY MANUFACTURING
SOURCE: Commercial Steel Products LLC
Copyright BusinessWire 2022.
PUBLISHED: 05/31/2022 09:00/DISC: 05/31/2022 09:03
Copyright BusinessWire 2022.