CHICAGO Samuel, Son &
Co. Ltd. has signed an agreement to purchase the assets of
Wilkinson Steel & Metals Inc. from Nova Capital Management
The transaction is expected to
close in late April following regulatory approval. The value of
the deal was not disclosed.
Columbia-based Wilkinson is a 100-year-old service center
aligned with the natural-resource-based economies of
Canadas three western provinces. It deals directly with
the forestry, mining and shipbuilding industries in British
Columbia; the oil, gas and mining sectors in Alberta; and the
agriculture, mining, oil and gas industries in
"Samuel and Wilkinson maintain
complementary product lines with minimal customer and product
overlap," Samuel president and chief executive officer Wayne
Bassett said in a statement March 28. He noted that the
acquisition will add steel bar and structural products to
Samuels stock list.
"The acquisition by Samuel
provides an excellent strategic and geographic fit that will
best serve the interests of Wilkinsons existing
customers, suppliers and employees, generating new
opportunities and profitable growth," Wilkinson president Bill
Hughes said in a statement.
Mississauga, Ontario-based Samuel, Son is the fifth-largest
processor and distributor of carbon steel, stainless steel and
aluminum in North America.