Russel Metals Inc. (TSX:RUS) entered into an agreement to acquire Boyd Metals, Inc. for $110 million on November 4, 2021. The purchase price of $110 million includes working capital, buildings and equipment, real estate and other related assets and subject to closing adjustments. The transaction will be financed from Russel's cash on hand and/or drawings under its existing bank facility. For the twelve months ended September 30, 2021, Boyd generated revenues of $244 million and Adjusted EBITDA1 of $39 million. The transaction is subject to customary conditions and is expected to close in the fourth quarter of 2021.

Russel Metals Inc. (TSX:RUS) completed the acquisition of Boyd Metals, Inc. on November 30, 2021.