Russel Metals to buy oilfield supply firm Apex

Aug 30, 2012 | 01:12 PM | Corinna Petry

Tags  Russel Metals, Apex Distribution, Brian Hedges, Marion Britton, oilfield supply, Don White, Corinna Petry

CHICAGO — Russel Metals Inc. has signed a letter of intent to acquire Canadian oilfield supply company Apex Distribution Inc. and related companies.

The purchase price, which was not disclosed, would consist of cash at closing and an earn out based on future earnings, according to Russel Metals.

Calgary, Alberta-based Apex Distribution has agreed to deal exclusively with Russel Metals until Oct. 31 as the parties negotiate toward a final agreement, the Mississauga, Ontario-based distributor, processor and tubing producer said.....

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