Black Diamond Capital Management announced today that Kyoei Steel Ltd. has acquired the Vinton, Texas steelmaking and finishing operations of the Bayou Steel Group from Black Diamond's BDCM Opportunity Fund IV.
The Vinton facility, located near El Paso, Texas, produces rebar for the construction industry and grinding media for the mining industry.
Black Diamond's fund continues to own and operate the Bayou Steel Group which now consists of the LaPlace operations located outside of New Orleans, a rolling mill in Harriman, Tennessee and three strategically located stocking depots in Tulsa, Oklahoma; Chicago, Illinois; and Pittsburgh, Pennsylvania. The LaPlace and Harriman facilities produce light structural shapes and merchant bar quality products.