Optima Specialty Steel, Inc., a company owned by investment firm Optima Acquisitions, LCC, announced Wednesday that it will acquire Niagara LaSalle Corporation. With locations throughout the US and Canada, Niagara LaSalle is a specialty steel processor and is North America's largest independent manufacturer of cold finished steel bars.
As a result of the merger, Niagara LaSalle will become a "significant part of Optima Specialty Steel along with Optima Specialty Steel's wholly-owned subsidiary Michigan Seamless Tube, LLC." Additionally, Kevin Stevick, president and CEO of Niagara LaSalle, will now become CEO of Optima Specialty Steel.
The acquisition is anticipated to close by the end of 2011.