Optima Specialty Steel Inc, a portfolio company of Optima Acquisitions, LLC announced that it has acquired Niagara LaSalle Corporation.

Niagara LaSalle is a specialty steel processor and is North America's largest independent manufacturer of high quality engineered cold finished steel bars.

As a result of the acquisition, Niagara LaSalle will become a significant part of Optima Specialty Steel along with Optima Specialty Steel's wholly owned subsidiary Michigan Seamless Tube LLC. MST is a specialty steel processor and a leading independent manufacturer of value-added precision-tolerance, cold drawn seamless tubes.

Mr Mordechai Korf chairman of the Board at Optima Specialty Steel and a shareholder of Optima Acquisitions stated “I am excited that Niagara LaSalle has become a part of Optima Specialty Steel and that Niagara LaSalle's current CEO, Kevin Stevick, has agreed to become the CEO of Optima Specialty Steel. The combination of Niagara LaSalle and MST will leverage Optima Specialty Steel's buying power, offer customers a wider selection of products, and strengthen both processors with key synergies. We are confident in our ability to continue to cultivate Niagara LaSalle's leadership position in the cold finished steel bar industry. We recognize the importance and commitment of Niagara LaSalle's management team and employees, as well as the Company's strong relationships with its customers and suppliers and plan on implementing best practices across both sister companies.”

Jefferies & Company Inc acted as exclusive financial advisor to Optima Specialty Steel in this transaction. Harris Williams & Co acted as exclusive financial advisor to Niagara LaSalle. Ropes and Gray LLP acted as legal counsel to Niagara LaSalle and Baker & McKenzie LLP acted as legal counsel to Optima Specialty Steel.