Mill Steel Co., one of the nation’s largest distributors of flat-rolled carbon steel, has purchased the commercial assets of Prassas Metal Products, a Los Angeles-based steel trading and stocking distributor of pre-painted and coated coil products with a reputable 30-year track record. Terms of the finalized business transaction were not disclosed.
This deal is characteristic of Mill Steel, which maintains a consistent track record of double-digit growth. It strengthens its geographic footprint with additional sourcing opportunities and greater reach in the Southeastern United States.
“When favorable opportunities such as this present, our aggressive acquisition strategy allows us to transact quickly to the benefit of our customers,” said Mill Steel President and Chairman Pam Heglund.
Mill Steel has assumed steel processing and supply for PMP’s broad array of construction industry customers in the Southeastern, Mid-South and Western United States. The transition will be seamless as Mill Steel reported it is upholding existing contracts.
“I appreciate the smooth transition and Mill Steel’s commitment to customer service,” noted Prassas Metal Products CEO Jim Prassas, who will take on a consulting role with Mill Steel as the business assets are integrated.