M&A Deal Summary

Worthington Enterprises Acquires Heidtman Steel Products - Pickling and Slitting Facility

On October 7, 2019, Worthington Enterprises acquired manufacturer Heidtman Steel Products - Pickling and Slitting Facility from Heidtman Steel Products

Acquisition Highlights
  • This is Worthington Enterprises’ 4th transaction in the Manufacturing sector.
  • This is Worthington Enterprises’ 16th transaction in the United States.
  • This is Worthington Enterprises’ 4th transaction in Ohio.

M&A Deal Summary
Date 2019-10-07
Target Heidtman Steel Products - Pickling and Slitting Facility
Sector Manufacturing
Buyer(s) Worthington Enterprises
Sellers(s) Heidtman Steel Products
Deal Type Divestiture

Target

Heidtman Steel Products - Pickling and Slitting Facility

Cleveland, Ohio, United States
Heidtman’s 278,000 square-foot Cleveland facility, constructed in 2004, includes pickling and slitting of hot rolled carbon flat rolled steel for the automotive, heavy truck, agriculture and heavy equipment markets and is adjacent to the ArcelorMittal steel mill.

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Buyer(S) 1

Buyer

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 18 of 22
Sector (Manufacturing) 4 of 8
Type (Divestiture) 4 of 5
State (Ohio) 4 of 5
Country (United States) 16 of 19
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-02 Worthington Industries - Soldering Business

Columbus, Ohio, United States

Worthington Industries, Inc. - Soldering Business is a manufacturer of solders and fluxes.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-05 Worthington Industries Engineered Cabs

Watertown, South Dakota, United States

Worthington Industries Engineered Cabs is a provider of engineered operator cabs for many of the world’s heavy equipment and off-highway vehicle manufacturers. Worthington Industries Engineered Cabs is based in Watertown, South Dakota.

Sell -

Seller(S) 1

SELLER

Heidtman Steel Products

Toledo, Ohio, United States
Category Company
Founded 1962
Sector Manufacturing
DESCRIPTION

Heidtman Steel Products is a processor, packager and distributor of flat rolled steel products. The Company was formed in 1962 and is headquartered in Toledo, Ohio.

DEAL STATS #
Overall 1 of 1
Sector (Manufacturing) 1 of 1
Type (Divestiture) 1 of 1
State (Ohio) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
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