Friedman Industries, Incorporated, announced that it has acquired Century Metals and Supplies, Inc. based in Miami, Florida. The acquisition includes working capital, buildings, processing and other equipment, and the related real estate. In addition to the owned facilities in Miami, the transaction also includes leased distribution and warehouse facilities in Orlando, Florida and Tampa, Florida.
The operations will continue as Century Metals and Supplies LLC, a wholly owned subsidiary of Friedman. The all-cash purchase is expected to be immediately accretive. Over the past three fiscal years, Century Metals has generated average annual revenues of approximately $111.0 million.
The acquisition of Century Metals expands Friedman’s presence in the southeastern U.S. and Latin American markets, enhances its core hot-rolled steel business, adds coil slitting capabilities, and broadens its product portfolio to include cold-rolled, coated, and stainless steels, as well as non-ferrous materials such as aluminum, copper, and brass. Additionally, this acquisition provides Friedman with strategic access to the growing residential and corrosion-resistant markets.
Courtesy of Friedman Industries.