Indiana-based steel processor Paragon Steel announced it has acquired Ohio-based Buckeye Metals Industries Inc.
Financial terms of the deal were not disclosed. Buckeye Metals was owned by the Ison family, and CEO Bruce Ison will remain as emeritus chairman of the Buckeye board. Buckeye will continue to operate under the Buckeye Metals Industries division name and other members of the Ison family will maintain leadership roles.
“We have immense respect for the Ison family, and the fantastic industrial legacy they have built over many years through this company,” said Jerry Henry, owner of Paragon Steel, in a statement. “We have very similar company cultures, with both built on a focus on integrity and putting people first. We are excited about the future of the steel industry and the opportunity to grow with the Buckeye team.”