Go to deals
Construction & Engineering Services | Logistics

Varsteel, Ltd. has acquired Pacific Steel, Inc.

Pacific Steel, Inc. has been acquired by Varsteel, Ltd.

Pacific Steel was founded in the 1950s and has built a reputation as a trusted source for both fabricators and construction contractors. The company is a leading distributor of structural steel to large fabricators and service centers in Eastern Canada and, for certain products, serves customers in the Northeastern US and throughout Canada. The company is a full-range supplier, fabricator and installer of rebar used in construction markets. Pacific Steel serves its customers using two facilities in Quebec, Canada.

Varsteel is a leading steel and pipe service center and metal processor, with over 800 employees and 32 locations in western Canada and the US. Headquartered in Alberta, Varsteel has offered supplies and service to its customers for over 70 years. Varsteel’s commitment to quality and reliability with every product ensures its customers’ satisfaction.

Oaklins Heritage in Jacksonville served as the intermediary and exclusive financial advisor to the seller in this transaction.

Parties
“Pacific Steel built its reputation through decades of hard work by many dedicated employees. I’m proud of the business we have built and believe that Varsteel is an excellent fit to help our company continue on its growth path. The team at Oaklins Heritage was with us every step of the way during the transaction. Their advice was invaluable throughout the process.”

Joe Antebi

President, Pacific Steel, Inc.

Talk to the deal team

Bert M. Tenenbaum

Principal
Savannah, United States
Oaklins Heritage

Doug Kravet

Principal
Jacksonville, United States
Oaklins Heritage

JP Allen

Senior Analyst
Jacksonville, United States
Oaklins Heritage

Related deals

Baker Constructors, Inc. has been acquired by C.W. Matthews Contracting Company, Inc.
Private Equity | Construction & Engineering Services

Baker Constructors, Inc. has been acquired by C.W. Matthews Contracting Company, Inc.

The shareholders of Baker Constructors, Inc. have sold the company to C.W. Matthews Contracting Company, Inc.

Learn more
Kiloutou has received strategic advice
Private Equity | Construction & Engineering Services

Kiloutou has received strategic advice

Kiloutou has received strategic advice on the development of its growth strategy through acquisitions.

Learn more
Sibelco has received strategic advice related to the exit of a minority shareholder
Construction & Engineering Services | Other Industries

Sibelco has received strategic advice related to the exit of a minority shareholder

SCR Sibelco has received strategic advice related to the exit of a minority shareholder. Different options were considered. On 8 December 2023, Sibelco announced its intention to launch a share buy-back program, via a tender offer, to acquire up to 18.94% of outstanding shares for a price of €6,850 per share and a total deal consideration of €609 million. The program offered liquidity optionality to the exiting shareholder as well as other minority shareholders looking forward to crystallizing some value. Sibelco is delighted to pursue its ambitious mid-term growth plan thanks to a refocused shareholder register and the support of the founding families. Further information on the transaction can be found in the prospectus of the tender offer.

Learn more