Olympic Steel Acquires Central Tube & Bar to Expand Position in Pipe and Tube Industry.
MANews-(C)2009-2023
US-based metals service Olympic Steel Inc. (NASDAQ: ZEUS) has acquired US-based fabrication services provider Central Tube & Bar (CTB) to expand in pipe and tube market, the company said.
The all-cash purchase is expected to be immediately accretive. Terms were not disclosed.
CTB offers a range of value-added fabrication services, including tube laser cutting, tube bending, robotic welding, flat laser burning and brake press forming.
CTB's trailing 12-month revenue for the period ended August 31, 2023, approximated USD 40m.
CTB services the transportation, agricultural, commercial furniture and data centre construction industries with fabricated tube and bar products, including round, square, rectangular and special shaped tubes.
Following the acquisition of CTB, Olympic Steel's total debt under its revolving credit facility is...
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