Ryerson Holding Corporation announced that it has acquired Fanello Industries, a privately-owned metal service center in Lavonia, Georgia. Fanello has been operating for 20 years and will continue to service the market under its own brand name.
Fanello provides services including blanking, stamping, laser cutting, bending, and machining metal solutions to a diverse group of industries in the Southeastern United States. The company employs approximately 150 people and has annual revenue of approximately $20 million. Eddie Lehner, Ryerson's President and CEO stated, "The acquisition of Fanello increases our breadth of value-added services that we can leverage across our service center network." According to the press release, both firms have had an ongoing customer and supplier relationship for many years.
Ryerson is a leading value-added processor and distributor of industrial metals, with operations in the US, Canada, Mexico, and China. Founded in 1842, Ryerson employs around 3,600 employees in approximately 100 locations.