Steel Dynamics, Inc. announced the completion of the acquisition of a majority of the equity interests of United Steel Supply, LLC. United Steel Supply is headquartered in Austin, Texas and is a distributor of painted Galvalume flat roll steel used for roofing and siding applications.
Steel Dynamics purchased 75 percent of the equity interests of United Steel Supply for $134 million, comprised of cash consideration of $93 million and the assumption of $41 million in apportioned net indebtedness. Additionally, Steel Dynamics has an option to purchase the remaining 25 percent equity interests of United Steel Supply in the future.
United Steel Supply distributes painted and coated flat roll steel coils to the niche regional roll-former market, serving the roofing and siding industry. USS is headquartered in Austin, Texas, with four distribution centers strategically located in Mississippi, Indiana, Arkansas, and Oregon, and employs 38 non-union individuals. As part of the transaction, current United Steel Supply owners Bret Curtis and Will Waldrip will continue to lead USS in their current capacities as President and Vice President, respectively.