Brown Gibbons Lang & Company (BGL) has announced the sale of MidWest Materials, a flat-rolled steel service center for North American original equipment manufacturers (OEMs), to Reliance, Inc., a diversified metals solutions provider. BGL's Metals & Advanced Metals Manufacturing investment banking team served as the exclusive financial advisor to MidWest Materials in the transaction.
"The BGL team demonstrated their experience and knowledge in the metal service center sector throughout the entire process, and we are very pleased with the outcome," said Brian Robbins, CEO of MidWest Materials. "I appreciate the team's dedication to helping us find a capable and respected partner to continue executing our plans for growth."
Headquartered in Perry, OH, and founded in 1952, MidWest Materials provides a wide breadth of steel products including hot-rolled, high strength hot-rolled, coated and cold-rolled products that are sold into the trailer manufacturing, agriculture, metal fabrication and building products markets.
Founded in 1939, Reliance is a global diversified metal solutions provider and the largest metals service center company in North America, the company reported. Through a network of more than 315 locations in 40 states and 12 countries outside of the United States, Reliance provides value-added metals processing services and distributes a full line of over 100,000 metal products to more than 125,000 customers in a broad range of industries.
BGL's Metals & Advanced Metals Manufacturing team has deep sector knowledge and extensive Metals M&A transaction experience within major subsectors of the broader metals industry. Coverage includes metal service centers, mills and foundries, advanced metals manufacturing and metals recycling.
For more information contact:
Brown Gibbons Lang & Company
1375 East 9th Street, Suite 2500
Cleveland, OH 44114
216-241-2800
www.bglco.com
MidWest Materials Inc.
3687 Shepard Road
Perry, OH 44081
440-259-5200
www.midwestmaterials.com
Reliance, Inc.
16100 N 71st St., Ste. 400
Scottsdale, AZ 85254
480-564-5700
www.reliance.com