Russel Metals acquires Apex Distribution for $225 million
Oilfield supply company reported revenues of more than $500 million.
mergers and acquisitions
russel metals inc.
TORONTO—Russel Metals Inc. has purchased oilfield supply company Apex Distribution Inc. in a $225 million deal.
Apex Distribution’s annual revenues for the fiscal year ending April 30 were more than $500 million.
The acquisition is expected to close in November 2012.
The company will continue to operate as a standalone unit led by Don White, its current President and CEO.
Russel Metals sells steel and pipe to the construction and energy industries. Its energy tubular products operations distribute oil country tubular products, line pipe, tubes, valves and fittings to the energy industry.