A.M. Castle buys Metals UK Group
Industrial Distribution staff -- Industrial Distribution, 1/3/2008 8:15:00 AM
A.M. Castle & Co. (Castle Metals) acquired British distributor Metals UK Group for an undisclosed amount.
Blackburn, England-based Metals UK distributes specialty metals to the worldwide oil and gas, petrochemical, aerospace and power generation markets. The company, which had sales of roughly $72 million last year, has two processing plants in Blackburn, one in Hoddesdon, England and one in Bilbao, Spain.
Franklin Park, Ill.-based A.M. Castle, which distributes specialty metals and plastics and provides supply chain services, said Metals UK’s management team, including founder Ian Griffiths, will remain in place.
“Metals UK Group is complementary to our existing North American operations and provides an opportunity for Castle to expand its global reach,” president and CEO Michael Goldberg said. “The company's specialty metals product offering, processing capabilities and supply chain expertise not only complement our business but also service potential high growth industries.”
A.M. Castle said it will fund the acquisition using $50 million from a $230 million revolving line of credit.
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