Russel Metals announces the purchase of Monarch Supply

The Russel Metals Inc announced that she made a deal to acquire oil deposits of Monarch for $ 33 million in cash, plus five -year delayed remunerations payable on the basis of future income before paying interest and taxes.

Monarch Supply has an annual income of about $ 50 million and profit before paying interest and taxes of about $ 8 million. RUSSEL METALS reported that it would continue to work with existing leadership and Monarch employees.

Monarch Supply will report to the president and executive director of the Apex Distribution Don White, and will continue to be responsible for the company's activities. Don White said "Apex Distribution has a long -standing working relationship with Monarch. A great correspondence has already been achieved between product offers, a client base and an extensive possibility of two companies."

Brian R. Hedges, President and Executive Director of the RUSSEL METALS said that "adding Monarch Supply will strengthen a long -standing relationship between Monarch and APEX Distribution and ensures the further growth of our business in the oil refineries. The United States, which will provide additional growth opportunities for our energy segment. ”

RUSSEL METALS is one of the largest distribution metallurgical companies in North America and is engaged in doing business in three metals distribution segments: metal service centers, biofuels and distributors have become under various banners.