Optima to acquire KES for $112.5M

Nov 20, 2012 | 05:32 PM | Michael Cowden

Tags  Optima Specialty Steel, Kevin Stevick, ALJ Regional Holdings, Kentucky Electric Steel, KES, John Scheel, SBQ, merchant bar quality steel

CHICAGO — Seamless tube and cold-finished bar producer Optima Specialty Steel Inc. has inked a deal to acquire special bar quality (SBQ) and merchant bar quality steel producer Kentucky Electric Steel LLC (KES) for $112.5 million in cash, according to KES parent ALJ Regional Holdings Inc.

The deal will leave the company with $51 million in cash on hand following the repayment of debt, transaction-related expenses and other costs, Ashland, Ky.-based ALJ said Monday.....

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