Metals USA Holdings Corp., a portfolio company of Apollo Management, has acquired substantially all of the operating assets of VR Laser, a Philadelphia-based metal processor of carbon plate products. Mo financial terms were disclosed. Metals USA is in registration for a $200 million IPO.
Metals USA Holdings Corp. today announced that it has acquired substantially all of the operating assets of VR Laser, a metal processor of carbon plate products located in Philadelphia PA. With the acquisition, Metals USA will be able to provide substantial value adding processing capabilities to its expanding customer base in the Northeast.
Lourenco Goncalves, the Company’s Chairman, President and C.E.O., stated: “The equipment acquired replicates much of our existing capabilities along the Gulf Coast, and expands our technological advantage in the important marine and defense industries.” Mr. Goncalves added: “Despite current difficult market conditions, Metals USA maintains a favorable long-term view on our business. We believe attractive investment opportunities will continue to present themselves, allowing us to continue to expand our processing capabilities at attractive costs.”
Metals USA provides a wide range of products and services in the heavy carbon steel, flat-rolled steel, non-ferrous metals, and building products markets. For more information, visit the Company’s website at www.metalsusa.com. The information contained in this release is limited and the Company encourages interested parties to read the Company’s historical Form 10-K and 10-Q’s which are on file with the Securities and Exchange Commission for more complete historical information about the Company. Additionally, copies of the Company’s filings with the Securities and Exchange Commission, together with press releases and other information investors may find of benefit, can be found at the Company’s website at www.metalsusa.com under “Investor Relations.”