Leading US metals service center Olympic Steel Inc has acquired the assets of Action Stainless & Alloys Inc, the Company's fourth acquisition in the past three years. The all cash purchase is immediately accretive. Terms were not disclosed. Action Stainless & Alloys, based outside of Dallas, Texas, is a full-line distributor of stainless steel and aluminum plate, sheet, angles, rounds, flat bar, tubing and pipe and offers a range of processing, including plasma, laser and waterjet cutting and CNC machining. In 2019, the Company generated more than USD 40 million in sales. The business will be incorporated into Olympic Steel's specialty metals business segment, led by Mr Andy Markowitz President Specialty Metals.
Action Stainless & Alloys, which opened in 1982, operates approximately 145,000 square feet of warehouse space across five facilities in Dallas and Houston Texas; Springdale Arkansas; Rock Hill South Carolina and Kansas Cit, Missouri. Action Stainless & Alloys will continue to operate under its established brand as an Olympic Steel Company, led by the existing management team, including Mr Lee Martinson, President of Action Stainless & Alloys.