Shale-Inland Acquires Main Steel Polishing
03/02/2011 - Shale-Inland CEO and Chairman of the Board, Craig T. Bouchard, announced Shale-Inland's acquisition of 100% of the stock of Main Steel Polishing Co., Inc.
Shale-Inland CEO and Chairman of the Board, Craig T. Bouchard, announced Shale-Inland's acquisition of 100% of the stock of Main Steel Polishing Co., Inc.
The debt-free transaction provides Shale-Inland with a national footprint in metal processing and supplements the company’s existing operating entities: Shale-Inland Stamping and Fabricating, Midland Chutes, and Shale-Solar LLC.
"It is rare to have the opportunity to acquire a crown jewel asset of this nature," commented Bouchard. "Main Steel has long been the quality leader in the North American stainless steel marketplace. I extend my personal thanks to the Mallan family for entrusting Shale-Inland with the future of the fine company Tom Mallan Sr. founded 55 years ago."
Based in Tinton Falls, N.J., Main Steel Polishing is a leading U.S. processor of stainless steel with facilities in New Jersey, Pennsylvania, Ohio, Georgia, Illinois, and California. The company also processes aluminum, titanium, nickel-based alloys, and red metals.
"While it was extremely difficult to make the decision to sell the family business, I feel confident in the abilities and professionalism of Craig and the Shale-Inland leadership team," said Linda Mallan, Vice Chairman of the Main Steel Polishing Board. "They (Shale-Inland) are dedicated to the quality, services, customer relationships, and employee loyalty that my late husband, Tom Mallan Sr., established more than 55 years ago. To that end, all employees will retain their positions, and Main Steel will continue to provide the same fine services and products to its account base with the added opportunity to grow in other ways."
Bouchard also announced an equity investment in Shale-Inland by The Stephens Group of Little Rock, Ark. "We are proud to have the backing of one of the most respected investors in North America," said Bouchard. "The Stephens Group has a long history of supporting and providing capital to family-owned businesses. In the steel industry of our generation, having a fortress-like balance sheet is a necessary ingredient for success."
Main Steel will continue to operate as the Main Steel Polishing Company, a wholly owned subsidiary of Shale-Inland. Its entire executive management team will remain with the company.
Headquartered in Chicago, Shale-Inland is a steel services company founded in August 2010. Its management philosophy is to invest in stamping, fabricating, and steel distribution assets with world-class customers and provide a level of service that engenders fierce loyalty.
The Stephens Group is a private, family-owned firm in Little Rock, Ark. The group focuses on investing its capital in private companies with exceptional management teams working with outstanding partners across a broad platform of companies in multiple industries.
Main Steel Polishing Co. Inc. is a leading independent toll processor of bright metals in North America. The company services their customers utilizing its seven (7) locations across the United States.
