Olympic Steel acquires Metal Works, terms undisclosed

Olympic Steel (ZEUS) announced the acquisition of Metal Works. The all-cash purchase is expected to be immediately accretive. Terms were not disclosed. Metal Works is a manufacturer of components for service station canopies, deck clips, long gutters, trim, and boat docks, as well as solar canopy and ground racking components – all made primarily from coated carbon steel and aluminum. The business, which includes roll forming and folding machines among its equipment, operates from two facilities in Oakwood, Georgia, totaling 48,720 square feet of processing space on 8.43 acres. The business, which opened in 2003, will continue to operate as Metal Works, led by president Ben Houston and his management team. The business will report financial results as part of the company’s Carbon Flat Rolled business segment.