CHICAGO Samuel, Son & Co. Ltd. has signed an agreement to purchase the assets of Wilkinson Steel & Metals Inc. from Nova Capital Management Ltd.
The transaction is expected to close in late April following regulatory approval. The value of the deal was not disclosed.
Vancouver, British 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 Saskatchewan.
"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.