"We have had great success working with progressive steel-buying OEMs who embrace our approach to separating metals supply from price using proven risk management strategies, including hedging," said Flack Global Metals founder and chief executive Jeremy Flack. 

"Fabral gets us one step closer to end consumers of metal building products, making FGM a more informed partner no matter if you use our distribution services, our financial services, our manufacturing capabilities, or any combination of the three."

Founded in 1967, Fabral is a leader in manufacturing metal roofing and wall systems for a range of end markets including residential, commercial and post frame/agricultural. It employs approximately 250 people and has eight locations throughout the U.S. 

The acquisition, which is expected to close by month’s end, marks the first transaction undertaken by a new Flack business, a direct equity investment platform focused on OEMs whose principal input is flat-rolled steel. 

In the case of Fabral, Flack Global Metals said it intends to invest additional capital to enhance Fabral's capabilities as part of its strategy to revitalize underutilized steel-consuming companies and assets. 

"It is only the first in what will be a series of investments. We intend to prove — using our own capital and that of progressive partners — the impact that is made when a company moves beyond the antiquated buying practices that dominate the steel industry. Too many steel buyers remain trapped in the past. This is our way of building the future,” said Flack.