Worthington Steel to Acquire Kloeckner & Co in $2.4 Billion Cash Deal
January 15, 2026
Worthington Steel entered into a Business Combination Agreement to acquire Germany-listed metals service center and metal processing company Kloeckner & Co for €11 per share in an all-cash voluntary tender offer. The deal is expected to be completed in the second half of 2026 and create a more diversified, larger-scale metals processing platform with an estimated $150 million in annual synergies.
- Buyers
- Worthington Steel
- Targets
- Kloeckner & Co
- Sellers
- SWOCTEM GmbH (committed to tender its shares)
- Industry
- Industrial Services
- Location
- Ohio, United States
- Transaction Type
- Buyout
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