In a statement, Union Partners said the acquisition of Maksteel will expand its footprint into Canada and enhances its product portfolio. Union Partners owns a family of metals and logistics-focused companies, including Lamination Specialties, Mapes & Sprowl, Cortran, Lee Steel, Berg Steel and Chicago Steel. It also is establishing a processing facility at Big River Steel in Arkansas. 

Founded in 1970, Maksteel has a capacity of 700,000 tons annually on a both a toll and resale basis. Its slitters can accommodate coils in widths of up 75 inches and in thicknesses ranging from 0.010 to 0.625 inch. It also owns and operates its own transportation fleet. 

"Along with the dedicated employees and their deep expertise, we are acquiring a premier steel service center and processor with unmatched capabilities, enabling us to further provide superior products and services to a variety of industries throughout North America,” said Union Partners co-founders Chris Hutter and Paul Douglass in a statement.