Russel Metals Completes Acquisition of Siemens Laserworks
05/02/2012 - Russel Metals Inc. has completed its acquisition of Siemens Laserworks Inc., a value-added laser processing company with trailing twelve months revenues of $33 million.
Russel Metals Inc. has completed its acquisition of Siemens Laserworks Inc., a value-added laser processing company with trailing twelve months revenues of $33 million.
Founded in 1996, Siemens Laserworks provides high quality parts and assemblies to their customer base throughout the Prairies. Russel Metals’ acquisition includes the Saskatoon, Sask., and Edmonton, Alta., operating assets as well as the Saskatoon land and buildings. The total purchase price was $27.5 million.
"We are extremely pleased to add Siemens Laserworks to our prairie service center operations,” said Brian Hedges President and CEO of Russel Metals. “The opportunity to add a market leader in our core service center segment fits perfectly with our goal of acquiring well run market leaders. Siemens Laserworks complements our growth into value-added processing and will be immediately accretive.”
Now that the acquisition has been completed, Siemens Laserworks will operate under its trade name, as a division of Russel Metals Inc. Russel Metals said it will keep the entire management team in place, led by Shawn Henschel the current President and CEO of Siemens Laserworks.
Russel Metals, one of the largest metals distribution companies in North America, conducts business in three metals distribution segments: metals service centers, energy tubular products and steel distributors. The company operates under various names including Russel Metals, A.J. Forsyth, Acier Leroux, Acier Loubier, Acier Richler, Arrow Steel Processors, B&T Steel, Baldwin International, Comco Pipe and Supply, Fedmet Tubulars, JMS Russel Metals, Leroux Steel, McCabe Steel, Mégantic Métal, Métaux Russel, Métaux Russel Produits Spécialisés, Milspec, Norton Metals, Pioneer Pipe, Russel Metals Specialty Products, Russel Metals Williams Bahcall, Spartan Energy Tubulars, Sunbelt Group, Triumph Tubular & Supply, Wirth Steel and York-Ennis.
