Olympic Steel, Inc. acquired Central Tube and Bar, Inc. for $37.8 million.
October 01, 2023
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Olympic Steel, Inc. (NasdaqGS:ZEUS) acquired Central Tube and Bar, Inc. for $37.8 million on October 2, 2023. The all-cash purchase is expected to be immediately accretive. CTB?s trailing 12-month revenue for the period ended August 31, 2023, approximated $40 million.
Olympic Steel, Inc. (NasdaqGS:ZEUS) completed the acquisition of Central Tube and Bar, Inc. on October 2, 2023.
Olympic Steel, Inc. is a metals service center company. The Company provides metals processing and distribution services to a range of customers. It operates through three segments: specialty metals flat products, carbon flat products, and tubular and pipe products. Specialty metals flat products segment is engaged in the direct sale and distribution of processed aluminum and stainless flat-rolled sheet and coil products, flat bar products, prime tin mill products and fabricated parts. Carbon flat products segment is engaged in the direct sale and distribution of large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts. Tubular and pipe products segment distributes metal tubing, pipe, bar, valves and fittings and fabrication of parts supplied to various industrial markets. This segment also offers a range of value-added fabrication services, including tube laser cutting, tube bending, robotic welding, flat laser burning and others.
OLYMPIC STEEL, INC. 
