M&A Deal Summary

Precision Strip Acquires Worthington Steel Vonore Tennessee Plant

On March 26, 2012, Precision Strip acquired metals/mining company Worthington Steel Vonore Tennessee Plant from Worthington Enterprises

Acquisition Highlights
  • This is Precision Strip’s 1st transaction in the Metals/Mining sector.
  • This is Precision Strip’s 1st transaction in the United States.
  • This is Precision Strip’s 1st transaction in Tennessee.

M&A Deal Summary

Date 2012-03-26
Target Worthington Steel Vonore Tennessee Plant
Sector Metals/Mining
Buyer(s) Precision Strip
Sellers(s) Worthington Enterprises
Deal Type Divestiture

Target

Worthington Steel Vonore Tennessee Plant

Tennessee, United States
Worthington Steel Vonore Tennessee Plant comprises a steel processing plant. It intends to process carbon steel, aluminum, and stainless steel products.

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Buyer(S) 1

Buyer

Precision Strip

Minster,, Ohio, United States

Category Company
Founded 1977
Sector Metals/Mining
DESCRIPTION

Precision Strip,is a toll processor of metal, processes, stores, and delivers rolled steel, aluminum, and copper to the automotive, appliance, industrial products, and beverage can industries.


DEAL STATS #
Overall 1 of 1
Sector (Metals/Mining) 1 of 1
Type (Divestiture) 1 of 1
State (Tennessee) 1 of 1
Country (United States) 1 of 1
Year (2012) 1 of 1

Seller(S) 1

SELLER

Worthington Enterprises

Columbus, Ohio, United States

Category Company
Founded 1955
Sector Metals/Mining
Employees4,000
Revenue 4.9B USD (2023)
DESCRIPTION
Entrance to Worthington Industries' corporate headquarters in Columbus, Ohio.
Entrance to Worthington Industries' corporate headquarters in Columbus, Ohio.

Worthington Enterprises is a diversified metal processing company. Worthington is a value-added steel processor and a leader in manufactured metal products such as metal framing, pressure cylinders, automotive past model service stampings, metal ceiling grid systems, and laser-welded blanks. Worthington Enterprises was founded in 1955 and is based in Columbus, Ohio.


DEAL STATS #
Overall 1 of 6
Sector (Metals/Mining) 1 of 1
Type (Divestiture) 1 of 6
State (Tennessee) 1 of 1
Country (United States) 1 of 5
Year (2012) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-04 Angus-Palm Industries

Watertown, South Dakota, United States

Angus-Palm Industries is a designer and manufacturer of operator cabs for mobile equipment.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-09 Palmer Mfg. and Tank

Garden City,, Kansas, United States

Palmer Mfg. and Tank Inc. is a manufacturer of steel and fiberglass tanks and processing equipment for the oil and gas industry, and custom manufactured fiberglass tanks for agricultural, chemical and general industrial applications.

Buy -