CASCADE TWP. — West Michigan flat-rolled carbon steel distributor Mill Steel Co. is expanding into the stainless steel and aluminum metal markets following the acquisition of distributors in Ohio and Illinois.
Mill Steel executives say the deal for Cleveland Metal Exchange as well as Chicago Stainless Metal Exchange is the company’s largest acquisition to date. Terms of the deal, which closed on Tuesday, were undisclosed.
“We are thrilled to be entering the stainless and aluminum industry,” Mill Steel CEO Pam Heglund said in a statement. “This was an easy decision made by our customers and supports our plans for continued growth. I have the utmost respect for the (Cleveland Metal Exchange) team and confidence in our combined efforts to deliver a superior customer experience.”
Founded in 1959, Mill Steel is one of the largest flat-rolled steel distributors in North America. The company is headquartered in Cascade Township and operates five service centers across the U.S.
Company officials have previously described the company’s “aggressive acquisition strategy,” which included a deal in 2021 to buy the commercial assets of a Los Angeles distributor that specializes in pre-painted and coated coil products.
Mill Steel’s recent acquisition of Cleveland Metal Exchange (CME) allows it to offer a full range of stainless steel and aluminum products, opening up access to manufacturing, automotive and construction customers as well as markets in the southeast, mid-south and western U.S.
CME CEO Randy Horvat and President Jeff Haas will lead the company’s new stainless and aluminum division. As well, the entire CME team will join Mill Steel.
“With Mill Steel’s financial strength, supplier relationships, and reputation, we view this merger as transformational, positioning Mill Steel to become one of the nation’s largest full-line service centers,” Horvat and Haas said in a joint statement.