Add-on Acquisition • Building Materials

Nucor Acquires Harris Steel Group

On January 2, 2007, Nucor acquired building materials company Harris Steel Group for 1.2B USD

Acquisition Context
  • This is Nucor’s 3rd transaction in the Building Materials sector.
  • This is Nucor’s 3rd largest (disclosed) transaction.
  • This is Nucor’s 1st transaction in Canada.
  • This is Nucor’s 1st transaction in Ontario.

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M&A Deal Summary

Date January 2, 2007
Target Harris Steel Group
Sector Building Materials
Buyer(s) Nucor
Deal Type Add-on Acquisition
Deal Value 1.2B USD

Target Company

Harris Steel Group

Stoney Creek, Ontario, Canada
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.
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Buyer Overview 1

Buyer

Nucor

Charlotte, North Carolina, United States

Category Company
Founded 1905
Sector Metals/Mining
Employees32,700
Revenue 30.7B USD (2024)
DESCRIPTION
Nucor's corporate headquarters in Charlotte, North Carolina.
Nucor's corporate headquarters in Charlotte, North Carolina.

Nucor is a manufacturer of steel products. Products produced include carbon and alloy steel – in bars, beams, sheet and plate; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; steel grating and expanded metal; and wire and wire mesh. Nucor was formed in 1905 and is based in Charlotte, North Carolina.


Deal Context for Buyer #
Overall 8 of 35
Sector: Building Materials 3 of 7
Type: Add-on Acquisition 7 of 26
State: Ontario 1 of 1
Country: Canada 1 of 2
Year: 2007 1 of 5
Size (of disclosed) 3 of 23
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-12 Verco Decking

Phoenix, Arizona, United States

Verco Decking, Inc. produces steel floor and roof decking at three locations in the western United States: Phoenix, Arizona; Fontana, California; and Antioch, California. Nucor's Vulcraft Group is the largest U.S. manufacturer of steel deck. With the addition of the Verco facilities, Nucor's total annual deck capacity will exceed 500,000 tons.

Buy $180M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-25 Magnatrax

Alpharetta, Georgia, United States

Magnatrax a provider of custom-engineered metal building systems for the growing North American non-residential construction market. Via its American Buildings Company, Kirby Buildings Systems, Gulf States Manufacturers and CBC Steel Buildings subsidiaries and divisions, Magnatrax primarily sells, engineers and fabricates custom metal building systems, which include primary and secondary wall and roof panels, trim and accessories.

Buy $280M