Norfolk Iron’s purchase of metals service center is finalized
The acquisition by Norfolk Iron & Metal Co. of a subsidiary of O’Neal Industries of Birmingham, Ala., has been finalized. The purchase was first announced in mid-November.
Officials with both companies made the joint announcement Wednesday morning of Norfolk Iron’s purchase of O’Neal Flat Rolled Metals (OFR), which is a leading metals service center and operates eight facilities primarily in the western part of the U.S.
“We are pleased to welcome the O’Neal Flat Rolled Metals team members to the Norfolk Iron family,” said Richard Robinson, president of Norfolk Iron. “Investment in our business has always been an important part of our commitment to meet the growing needs of our customers. OFR is a natural fit with our current operations and brings complementary capabilities with the same reputation for outstanding service.”
With the acquisition, OFR will return to its former name, Metalwest. All members of OFR’s management team are continuing in their current roles, with Jeff Simons continuing as president and CEO.
“We could not be more excited about joining the Norfolk Iron team,” Simons said. “Our businesses create a family of companies with a broad geographic footprint and deep product offering, ready to meet the growing demands of our customer base.”
Robinson and Simons said both businesses stress safety, employee engagement and exceptional customer service.
The acquisition will enhance Norfolk Iron’s geographic footprint by adding eight new locations, while also expanding its product lines and capabilities for processing flat rolled carbon, stainless and aluminum products.
Holman Head, president of O’Neal Industries, said, “We thank Jeff Simons and the entire OFR team for their years of outstanding service and dedication to our company. We couldn’t be more pleased to have the OFR team become a part of Norfolk Iron & Metal, and we wish them every success.”
Financing for the acquisition has been provided by First National Bank of Omaha.
O’Neal Flat Rolled Metals has been a leading processor and distributor of non-ferrous and carbon flat rolled metal products. Its eight locations house more than 650,000 square feet of processing and warehousing capabilities, offering customers sheet and coil materials including stainless, aluminum, hot rolled, cold rolled and galvanized. The company also offers painted, polished and coated material to suit customer needs.