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Ryerson To Acquire Central Steel & Wire Company

by wireworld on 06/06/2018 - 12:11 pm

Tag: Acquisitions

Ryerson Holding Corp. (RYI) announced a definitive merger agreement to acquire Central Steel & Wire Company, a metal service center with six locations across the Central and Eastern U.S. The transaction values Central Steel & Wire at an enterprise value of $140 million on a cash-free, debt-free basis with a normalized level of working capital.


Central Steel & Wire employs approximately 900 people and has annual revenue of approximately $600 million. Central Steel & Wire will continue to operate under its current brand name following the closing of the transaction.


Ryerson intends to fund the acquisition through existing and acquired sources of liquidity.