With the acquisition of Metalwest by Norfolk Iron & Metal (Norfolk Iron) approaching the 1-year mark, we thought it would be a great opportunity to talk with the members of the Norfolk Iron leadership team to see how they feel about the acquisition and what it means for the two companies.
“The acquisition of Metalwest has meant a great deal for Norfolk Iron. It gave us the opportunity to not only grow our product offering, but geographically as well. Approaching the one-year mark has allowed me to reflect on why we chose to acquire Metalwest in the first place. We knew the two organizations shared similar values and as the first year comes to a close, this has become even more apparent. Their internal culture, from safety to work-place environment, is something we also value at Norfolk Iron. Seeing how well the two organizations work together has me optimistic about the future and the great service we can continue to provide to our now shared customer base. I am excited about the great combined team we have.” Dick Robinson, Chairman, CEO
“The Metalwest acquisition has forever changed Norfolk Iron. We have pushed ourselves into the top 20 in the MCN rankings, expanded our service and our name to over 30 states and added new products in the heart of our existing territory; truly amazing results from one acquisition. Along with the hard assets, we have brought great new team members into the fold. The people are truly the magic behind the success of Metalwest. As I think of what the Metalwest acquisition means to me, I am excited for what is yet to come. I am excited about what we can provide for our customers. Leveraging the strengths of two high performing market leaders will create the premier metals service center in the country. It is a pleasure to work with leaders from both companies as we set our strategies for growth well in the future.” – Arnie Robinson, President, CCO
“The acquisition of Metalwest has meant a lot for me and for Norfolk Iron. It has created opportunities for us to expand our reach geographically and in new products. More importantly it has added a great group of talented people to our team. As I have travelled to the Metalwest regions it has been great to get to know a lot of the people and see just how similar our groups are. Norfolk Iron has “borrowed” a lot of the best things we see Metalwest do. Our new branch structure is modeled on the Metalwest structure, for example, and we have added inventory managers. We are also working to add the “fun” that Metalwest brings into our organization. Personally, I have really enjoyed working with a great new group of leaders as I have become a member of the Metalwest leadership team. It has allowed me to look at ideas differently and has been a great experience. I am looking forward to what we can accomplish together in the future.” – Jeff Robinson, Executive Vice President, CCO
“Norfolk Iron has been actively seeking and capitalizing on growth opportunities for the better part of the past 25 years. In our experience, companies that are candidates for acquisition don’t always have the proven track record or the exceptional reputation that Metalwest had built for itself by the summer of 2018. In fact, when the opportunity came to our attention, it almost seemed too good to be true! And yet, 10 months and counting after the completion of the transaction, we continue to be delighted with the results. As the combined companies evolve, the Norfolk Iron operating unit continues to execute on our plan to adopt best practices developed and established at Metalwest. Looking forward, I believe the enhancements and initiatives that are coming to both Norfolk Iron and Metalwest are going to position us to compete and win in the new decade and beyond. The bottom line for me is that Metalwest and Norfolk Iron are building the foundation for what is going to be a very bright future for all the outstanding employees of the Norfolk Iron family of companies!” – Mike Bamsey, Vice President of Operations
“The acquisition of Metalwest means an opportunity to grow our people, products, and coverage of metals throughout the United States. In the acquisition of Metalwest, we have added a group of people that have great knowledge of what it takes to provide customers with the best experience you can have when purchasing metals. They have an excitement about providing this experience to customers that is second to none. By combining our people, products, and customer service we can provide a complete customer experience across a large range of materials and processes to order metals.” – Tim Noonan, Vice President
“As we approach the one-year anniversary of the acquisition, it is a perfect time to reflect on what Metalwest means to us. After spending time with the Metalwest leadership team during the diligence process, it became crystal clear that our two organizations shared similar values and this deal had the potential to be a long-term win-win for both companies. For me personally, I was extremely excited to help our team navigate the complexities of the diligence process and ultimately get the largest deal done in Norfolk Iron history dating back to 1908. Over the past year, we had the pleasure of visiting the Metalwest locations and meeting many of the talented team members. From grilling steaks for safety achievements, to diving into discussions with regional management teams, these interactions cemented my view that we have talented team members across the entire company. With the foundation we have built and the team members we have in place, I am extremely optimistic on the future of Metalwest, Norfolk Iron, and NIM overall!” – Brad Noel, CFO
“When we were in the midst of the due diligence in the acquisition of Metalwest, we often commented on how similar our cultures were and how this would make the two companies truly complement each other. We were wrong. What the two companies shared was not culture but values, which are significantly more important that culture. Metalwest has a culture of sales and sales support. Norfolk Iron has a culture of operational excellence and execution. But the values of the companies, the core beliefs and ethics, are very similar. This has worked in our favor. Since the values line up, the two companies can share, learn, and cooperate. We can discuss opportunities for synergies without being threatened, and work toward promoting projects that increase the efficiency of each company. And as a result of our corroboration, we have a clear vision of the potential that we collectively have.” – John Davis, Vice President of Supply Chain
It seems like the Norfolk Iron leadership team views the acquisition as an exciting opportunity for growth and the future. We also talked with the Metalwest leadership team to get their side of the story as well. You can check it out on their blog, the Beyond Metal Buzz.