Continued Growth with the Acquisition of Action Stainless & Alloys, Inc.

Action Stainless, based in Texas, joins our Specialty Metals business segment.

In December, Olympic Steel completed its fourth acquisition in the past three years with the purchase of Action Stainless & Alloys, Inc. With operations based outside of Dallas, TX, Action Stainless 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 capabilities, including plasma, laser and waterjet cutting and CNC machining.

Action Stainless locations and processes will be incorporated into the fast-growing Specialty Metals business segment, led by Andy Markowitz, President – Specialty Metals. Olympic Steel’s Specialty Metals team includes Olympic Steel’s Schaumburg, IL and Gary, IN locations, the Integrity Stainless locations in Streetsboro, OH and Latrobe, PA and Berlin Metals in Hammond, IN – all led by Vice President of Specialty Metals, Andrew Wolfort. Also, part of this team, Brian Harkins leads Olympic Steel’s enterprise-wide aluminum sales efforts as Director – Aluminum.

“Action Stainless & Alloys will expand the geographic footprint of our specialty metals business and provide additional product and processing offerings to support existing customers and continue extending our market reach,” said Andrew Greiff, President and Chief Operating Officer, in the press release issued on December 14. “The business is a natural fit, and we expect the acquisition to result in a number of commercial collaborations.” You can access the full press release on olysteel.com.

The addition of Action Stainless & Alloys to the Olympic Steel family of brands helps us realize part of our Company’s mission to achieve profitable growth. Despite the challenges our Company and industry faced in 2020, completing a transaction like this is a testament to the commitment and determination of Olympic Steel.

Our collective efforts to work safely and efficiently positioned Olympic Steel for this important step forward following a difficult year. The hard work and discipline of our teams, coupled with strong banking relationships, have given us the ability to negotiate the borrowing agreements needed to complete the Action acquisition during a challenging year.

To learn more about Action Stainless & Alloys, visit ActionStainless.com.