Nippon Steel Acquires U. S. Steel

Reliance Steel & Aluminum Co. Acquires American Alloy Steel, Inc.

February 14, 2024

Industrial Services

Reliance Steel & Aluminum Co. has entered into a definitive agreement to acquire all outstanding equity interests and related real estate assets of American Alloy Steel, Inc., a Houston-based distributor and fabricator of specialty carbon and alloy steel plate and round bar. The acquisition adds specialty plate and new fabrication/value-added processing capabilities to Reliance's portfolio; American Alloy reported approximately $310 million in sales for the 12 months ended Dec. 31, 2023.

Cleveland-Cliffs Acquires Stelco Holdings Inc.

July 15, 2024

Manufacturing

Cleveland-Cliffs Inc. has completed its acquisition of Stelco Holdings Inc. for C$70.00 per share (C$60 cash and 0.454 Cliffs shares), implying an enterprise value of approximately C$3.4 billion. The deal brings Stelco's integrated flat-rolled steel operations in Hamilton and Nanticoke, Ontario into Cliffs' portfolio, expanding its Canadian footprint, adding roughly 1,800 union employees, and creating estimated annual synergies and capability expansion in flat-rolled steel production.

Pennsylvania Steel Company Acquires Stark Metal Sales

December 20, 2023

Industrial Services

Pennsylvania Steel Company, Inc., a veteran‑owned full-line metals service center, has acquired Stark Metal Sales, a full-line steel service center based in Alliance, Ohio. Heritage Capital Group served as exclusive financial advisor to Stark; transaction terms were not disclosed. The deal expands Pennsylvania Steel's service center footprint and processing capabilities in the Ohio/Pennsylvania region.

Majestic Steel USA Acquires Merit Steel USA

August 18, 2021

Industrial Services

Majestic Steel USA, a privately held steel distributor and processor based in Cleveland, acquired the business assets of Merit Steel USA (legally Merit Ends and Viking Processing Corporation), a West Coast steel service center headquartered in Pittsburg, California, with additional locations in Fontana, CA and Longview, WA. The acquisition expands Majestic's footprint in the Western United States and strengthens its ability to serve customers amid ongoing supply-chain constraints.

Olympic Steel Acquires Shaw Stainless & Alloy

October 1, 2021

Manufacturing

Olympic Steel Inc. has acquired the assets of Shaw Stainless & Alloy in an all-cash, immediately accretive transaction; terms were not disclosed. The acquisition brings Shaw's stainless steel distribution, fabrication, architectural and barrier defense businesses into Olympic Steel's specialty metals segment while retaining Shaw's management and operations in Georgia.

HNI Corporation Acquires Steelcase Inc.

December 10, 2025

Manufacturing

HNI Corporation has completed its acquisition of Steelcase Inc., creating a combined workplace furnishings enterprise with pro forma annual revenues of $5.8 billion. Steelcase shareholders received a choice of cash and/or HNI stock per share, and the deal is intended to combine complementary portfolios, distribution networks and capabilities to drive operational enhancements and digital transformation.