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"I hired Jim to approach just one specific acquirer to see if he could put together the right deal... and he did! He took the time to understand Allegheny Steel's unique niche in the industry and was able to communicate its true value. He is a real professional with the knowledge, experience and relationships to get the job done".
Robert Wickerham
Former President & Owner
Allegheny Steel Distributors, Inc
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Representative Engagements
Allegheny Steel Distributors, Inc.
Situation:
Allegheny Steel Distributors, Inc. ("Allegheny") is a top performing metal service center specializing in processing and distributing flat-roll steel products. Located in Indianola, PA the company has annual sales of approximately $40 million.
In the Spring of 1998, Allegheny's owner began to contemplate eventual retirement. He wanted to be in a position to retire sometime in the next 2-3 years while ensuring the future of his company and maximizing its value. However, he would only consider selling his company to one specific acquirer. This acquirer, Reliance Steel & Aluminum, was (and is) one of the nation's top performing metal services company with a nationwide network of over seventy facilities and $3.4 billion in annual sales.
Ameridan's Role:
Allegheny engaged Ameridan to initiate discussions with Reliance and to structure & effect a transaction that met the owner's objectives.
On September 3, 1999 the engagement was successfully completed when Reliance Steel & Aluminum Co. closed the acquisition of Allegheny.
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