Heritage Capital Group Advises Klein Steel in Sale

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May 27, 2022, 08:41 ET

JACKSONVILLE, Fla., May 27, 2022 /PRNewswire/ -- Heritage Capital Group, an investment banking and financial advisory firm serving middle-market and emerging growth companies in the US and worldwide, is pleased to announce that its client Klein Steel Service, Inc. ("Klein Steel" or the "Company"), has been acquired by Alro Steel.

Klein Steel has been acquired by Alro Steel.

Klein Steel, a premier metals supplier and processing center, provides world class inventory and supply management solutions with over 3,500 SKUs of carbon, stainless steel, aluminum, and specialty metals. The Company offers a full range of value-added processing services that include component manufacturing and kitting for commercial applications as well as customer specific materials. Founded in Rochester, NY in 1971, Klein Steel has grown to be an industry leader in the Northeast, operating six facilities in western and central New York.

Alro Steel was founded in 1948 as a steel distributor in Jackson, MI. Since then, Alro has expanded its operations to over 70 locations in 13 states and has extended its offerings to include plastics, industrial supplies, and value-added processing.

Heritage served as the exclusive financial advisor and intermediary to Klein Steel. The deal team was led by Bert Tenenbaum and included Doug Kravet, John Pregulman, and Chad Clark. The terms of the transaction were not disclosed.

Mike Young, president of Klein Steel commented, "Heritage's attention to detail and confidentiality made our management team feel comfortable with the requirements needed during each phase of this deal. Their industry expertise made the process much more fluid than we believed possible. There were no surprises, which eliminated a lot of stress on our part."

Heritage Capital Group provides objective advice to private companies in the areas of mergers, acquisitions and divestitures, business valuations, debt and equity capital raises, corporate restructurings, and financial and strategic advisory services focused on enhancing the value of business enterprises. Heritage Capital Group is a FINRA registered broker-dealer, and a member of Oaklins, the world's most experienced mid-market M&A advisor, with 850 professionals globally and dedicated industry teams in 45 countries worldwide.

Media Contact:
Katie Quackenbush
904-354-9600
[email protected]

SOURCE Heritage Capital Group