Maksteel has acquired LexWest Steel, a Los Angeles-based full-line distributor of flat-rolled steel products in the United States.
No financial terms were disclosed for the deal, which will see LexWest rebranded as Maksteel USA.
Based in Mississauga, Ontario, Maksteel is a steel service centre and processor. It was acquired last year by Union Partners, a U.S. metals and logistics private equity firm, from Welded Tube of Canada Group of Companies.
Union Partners said the acquisition of LexWest expands Maksteel’s geographic footprint and processing capabilities. It increases the company’s North American facilities to nine.
Maksteel USA Completes Acquisition of LexWest Steel
Deal Expands Capabilities and Geographic Footprint
CHICAGO, March 7, 2019 /PRNewswire/ — Union Partners is pleased to announce that one of its world-class steel service centers, Maksteel, has completed the acquisition of LexWest Steel based in Los Angeles, California. LexWest Steel is a full-line distributor of flat rolled steel products and will be rebranded as Maksteel USA under the expanding Union Partners portfolio.
Maksteel USA is a US division of Maksteel, which is based in Canada. Maksteel’s geographic footprint and processing capabilities grow with this addition and US distribution now spans from the midwest and south regions to strategic locations in Los Angeles, California, and a soon-to-be announced expansion in Arizona. This westward growth is key for Maksteel as they continue to pride themselves on providing superior service, products and capabilities to their customers, vendors and suppliers across the country.
LexWest Steel was founded in 2001 and currently operates out of Los Angeles, with sales offices in Arizona and Texas. Over the past 18 years, LexWest has grown into one of the most successful independent service centers on the west coast. The company offers slitting and cut-to-length capabilities, and carries a variety of hot rolled, cold rolled, coated and pre-painted flat rolled products. With the addition of LexWest, Maksteel now operates out of nine facilities in the US and Canada.
Union Partners co-founder, Paul Douglass, said of the acquisition, “LexWest is a trusted and familiar name, and I am confident that our LexWest team and operations will thrive under Maksteel.”
“We are thrilled to announce the addition of LexWest and welcome them to the Maksteel family,” said Union Partners co-founder, Chris Hutter. “This acquisition allows us to continue our mission of providing superior service through strategic expansion and enhanced capabilities.”
For more information on Maksteel, please visit their website at www.Maksteel.com.
About Union Partners
Union Partners LLC is a hands-on holding company of metals and logistics companies. With 21 locations throughout North America, its operations include Maksteel, Contractors Steel, Mapes & Sprowl Steel, Lamination Specialties, Cortran and Chicago Steel. Founded by families with multi-generational experience in steel, real estate and logistics, the company prides itself on combining the integrity of family-owned businesses with the innovation of entrepreneurial values.