M&A Deal Summary

Harris Steel Group Acquires Ambassador Steel

On August 26, 2008, Harris Steel Group acquired metals/mining company Ambassador Steel for 185M USD

Acquisition Highlights
  • This is Harris Steel Group’s 1st transaction in the Metals/Mining sector.
  • This is Harris Steel Group’s largest (disclosed) transaction.
  • This is Harris Steel Group’s 1st transaction in the United States.
  • This is Harris Steel Group’s 1st transaction in Indiana.

M&A Deal Summary
Date 2008-08-26
Target Ambassador Steel
Sector Metals/Mining
Buyer(s) Harris Steel Group
Deal Type Add-on Acquisition
Deal Value 185M USD

Target

Ambassador Steel

Auburn, Indiana, United States
Ambassador is a fabricator and distributor of concrete reinforcing steel and related products. Founded in 1974, Ambassador has grown to be one of the largest independent fabricators and distributors of rebar in the United States. In 2007, Ambassador shipped 422,000 tons of fabricated rebar and distributed another 228,000 tons of reinforcing steel.

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Buyer(S) 1

Buyer

Harris Steel Group

Stoney Creek, Ontario, Canada
Category Company
Sector Building Materials
DESCRIPTION

Harris Steel, Inc., has several business units: Harris Rebar which is involved in the fabrication and placing of concrete reinforcing steel and the design and installation of concrete post-tensioning systems; Laurel Steel which is a manufacturer and distributor of wire and wire products, welded wire mesh and cold finished bar; and Fisher & Ludlow which is a manufacturer and distributor of heavy industrial steel grating, aluminum grating and expanded metal.

DEAL STATS #
Overall 1 of 1
Sector (Metals/Mining) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Indiana) 1 of 1
Country (United States) 1 of 1
Year (2008) 1 of 1
Size (of disclosed) 1 of 1
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