Missouri steel pipe and tubing manufacturer Bull Moose Tube Company plans to acquire Alabama counterpart Hanna Steel Corp., company officials announced Tuesday.
Hanna Steel, based in suburban Birmingham, is a producer of structural and mechanical steel tubing. Bull Moose officials said that the deal would create a “stronger” and “more aligned” platform than the companies could offer as separate businesses.
The transaction is expected to be completed early in the third quarter of the year, subject to closing conditions. Following closing, Hanna will operate as a division of Bull Moose.
Financial terms were not disclosed.
"The acquisition of Hanna Steel is a strong strategic fit for Bull Moose as we continue to expand our capabilities and enhance value for our customers," Bull Moose CEO John Krupinski said in a statement. "Hanna adds complementary assets, experienced teams, a respected reputation and culture, along with a product portfolio that supports our long-term growth strategy.”
“Joining forces with Bull Moose Tube allows us to pair our legendary commitment to consistency and customer service with Bull Moose's impressive scale and quality,” added Hanna Steel Vice Chair Jill Cunningham.
Bull Moose, headquartered in suburban St. Louis, is part of the Caparo family of companies and offers one of the largest ranges of welded steel tubing in North America. It operates seven production facilities in the U.S.
Bull Moose Chairman Ambar Paul said the deal represented its “third major investment in recent years” and that it would “continue to assess and pursue strategic opportunities that strengthen Bull Moose Tube's position.”
