Ashley, Pa.-based Straub Metal has been acquired by one of the largest family-owned steel service centers in the country, Norfolk Iron & Metal, officials said Monday.
The acquisition will further expand NIM stainless steel sheet and coil product lines, the companies said. No information was released about the acquisition, other than the companies were represented by Abrahams Kaslow & Cassman LLP as legal counsel and Headwall Partners LLC as buy-side advisor to Norfolk Iron & Metal; and Ballar Spahr LLP as legal counsel and Mufson Howe Hunter & Company LLC as sell-side advisor to Straub Metal.
“We are pleased to welcome the Straub Metal team to the NIM family,” Arnie Robinson, President and COO of Norfolk Iron & Metal, said. “As a family-run business, Straub Metal is a great fit to continue our growth and investment throughout the United States.”
Norfolk Iron & Metal services customers from Washington to New Jersey and provides value-added metals processing services and distribution for a full line of metal products, including carbon steel, stainless steel, and aluminum.
Straub Metal is a family-run business founded in the 1970s, and is a worldwide distributor of Type 409 stainless steel. The company offers Type 409 and Type 439 stainless steel in sheet, coil, strip, panels, plates and washer form.
“Both companies have grown and succeeded by consistently delivering outstanding products and services to every customer, “Doug Straub said. “We are thrilled to be combining with NIM.”