Aperam, a Luxembourg manufacturer of stainless, electrical and specialty steel, will pay US$45 per share for the company, giving it its first manufacturing presence in the United States. Universal employs approximately 750 employees across four U.S. sites. It produces and markets semifinished and finished specialty steels, serving a variety of industries, especially aerospace. 

Aperam said the deal will allow both companies to enter new markets across Europe and the U.S. And with no overlap in their commercial offerings or assets, it is estimating synergies of US$30 million per year. 

“Today marks an exciting milestone in Aperam’s journey to become one of the global leaders in specialty steels. Universal shares our vision for sustainable growth and innovation, and we are confident that this partnership will yield significant benefits for both our customers and shareholders,” said Aperam chief executive officer Timoteo Di Maulo. 

“Our combined expertise and resources will allow us to deliver superior solutions that meet the growing demand for high-quality, sustainable solutions. This acquisition not only aligns with our long-term strategy but also strengthens our commitment to diversify into specialties in stainless steel and alloys and increasing exposure to more stable, high-margin industries,” he added.  

Universal Stainless’ board of directors has approved the deal, which is expected to close in the first half of 2025. Universal will continue to do business as Universal Stainless and maintain its headquarters in Bridgeville, Pa. 

“This is an exciting opportunity to become part of a respected leader with complementary capabilities and strong financial resources. It recognizes our substantial accomplishments thus far and it’s a major step forward towards accelerating our growth momentum and development. Importantly, this combination offers tangible benefits to our stockholders, our team and our customers,” said Christopher M. Zimmer, Universal Stainless president and chief executive officer. 

“Becoming part of Aperam is also expected to benefit our customers because Aperam plans to invest in and support our manufacturing capabilities and technologies, enabling us to be more efficient and expand our product and services portfolio. This combination also gives us access to world-class research centers and innovations to further enhance our product quality and offerings.”