Olympic Steel Expands Into Product Manufacturing Through Acquisition
01/03/2019 - Ohio-based service center Olympic Steel Inc. has acquired McCullough Industries Inc., a maker of branded self-dumping hoppers, through an all-cash deal, the company has announced.
Terms of the deal, which was finalized Wednesday, were not disclosed.
“The McCullough acquisition marks our entry into manufacturing and marketing metal-intensive branded products, which is a key element to our long-term growth strategy,” said Olympic Steel chief executive Richard T. Marabito. “Vertical integration into manufacturing metal products allows us to utilize our existing assets and expertise to more consistently capture higher profit from the point of raw material purchase through the ultimate sale to the end customer.”
McCullough and Wright branded hoppers are sold into the construction, food service and landscaping sectors. They are recognized nationally for their durability and performance, the company said.
The business will continue to operate from its home base in Kenton, Ohio, but under new leadership as Olympic Steel veteran Joseph Casey has been named general manager. Casey has been with Olympic Steel since 2012 and most recently served as purchasing manager.