Norfolk Iron & Metal Closes Acquisition of O’Neal Flat Rolled Metals from O’Neal Industries

//Norfolk Iron & Metal Closes Acquisition of O’Neal Flat Rolled Metals from O’Neal Industries

Norfolk Iron & Metal Closes Acquisition of O’Neal Flat Rolled Metals from O’Neal Industries

BIRMINGHAM, AL and NORFOLK, NE, January 2, 2019  Norfolk Iron & Metal Co. (Norfolk Iron), a full-line steel service center, and O’Neal Industries Inc. (ONI), the largest family owned group of metals service centers in the United States, today jointly announced that Norfolk Iron has acquired O’Neal Flat Rolled Metals, LLC (OFR), a wholly-owned subsidiary of ONI.

 

OFR is a leading North American metals service center, focused on processing and distributing non-ferrous and carbon flat-rolled products from eight facilities, principally in the western US.  OFR will return to its former name, Metalwest, a name equally recognized for quality and service in the flat rolled industry. All members of OFR’s management team are continuing in their current roles, with Jeff Simons continuing as President and CEO.

 

Norfolk Iron and OFR are both businesses that place the highest importance on safety, employee engagement and exceptional customer service.  The acquisition will enhance Norfolk Iron’s geographic footprint by adding eight new locations, while also expanding its product lines and capabilities for processing flat rolled carbon, stainless and aluminium products.

Richard Robinson, President of Norfolk Iron, said, “We are pleased to welcome the OFR team members to the Norfolk Iron family”.  Robinson continued, “Investment in our business has always been an important part of our commitment to meet the growing needs of our customers. OFR is a natural fit with our current operations and brings complementary capabilities with the same reputation for outstanding service.

“We could not be more excited about joining the Norfolk Iron team,” said Jeff Simons, President & CEO of OFR. “Our businesses create a family of companies with a broad geographic footprint and deep product offering, ready to meet the growing demands of our customer base.”

Holman Head, President and COO of O’Neal Industries commented, “We thank Jeff Simons and the entire OFR team for their years of outstanding service and dedication to our company. We couldn’t be more pleased to have the OFR team become a part of Norfolk Iron & Metal, and we wish them every success.”

Headwall Partners LLC and XMS Capital Partners, LLC are serving as financial advisors, and Maynard Cooper & Gale is providing legal services to O’Neal Industries.  Abrahams Kaslow & Cassman LLP is acting as legal counsel to Norfolk Iron. Financing has been provided by First National Bank of Omaha.

2019-01-02T14:03:44+00:00January 2nd, 2019|