Metals service center Olympic Steel Inc. today announced that it has acquired certain assets related to the manufacturing of the EZ-Dumper hydraulic dump inserts. Terms of the purchase were not disclosed. While the EZ-Dumper acquisition will not be material to Olympic Steel’s financial performance, the company does believe it will be incrementally positive to EBITDA. This represents Olympic Steel’s second branded metal products acquisition in the past seven months, following the McCullough Industries transaction in January 2019.
“Continuing to expand in the metal-intensive branded products space is a key element of our growth and diversification strategy, and the EZ-Dumper asset acquisition represents our second such acquisition,” said Richard T. Marabito, Olympic Steel Chief Executive Officer. “We believe combining our strengths in raw material supply and metal processing with EZ-Dumper’s product quality and brand recognition will provide a consistent and growing EBITDA stream for our organization. We are committed to actively evaluating additional opportunities to add to our metal-intensive branded products portfolio.”
EZ-Dumper will be included in Olympic Steel’s Carbon Flat Products segment, and its manufacturing assets and employees will be integrated into Olympic Steel’s facility in Chambersburg, Pennsylvania, which is near EZ-Dumper’s current manufacturing facility in Waynesboro, Pennsylvania.