Russel Metals to buy oilfield supply firm Apex Distribution
Oct 25, 2012 | 05:25 PM
| Corinna Petry
Tags
Russel Metals,
service center,
acquisition,
Apex Distribution. oilfield supply,
Brian Hedges,
Don White
CHICAGO — North American service center operator Russel Metals Inc. has agreed to purchase oilfield supplier Apex Distribution Inc. for Canadian $225 million ($226.2 million).
Russel Metals will acquire Edmonton, Alberta-based Apex and related companies and expects to close the deal next month. The total purchase price will include a C$175-million ($176-million) cash payment to shareholders and C$50 million ($50.3 million) to extinguish Apex Distribution’s net debt.....
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