XLCS Partners advises Millennium Metals in sale to Barsteel Corporation
CHICAGO, IL – XLCS Partners, Inc., an independent investment banking firm providing M&A advisory, capital raising, and debt advisory services, is pleased to announce that its client, Millennium Metals, has been acquired by Barsteel Corporation.
Millennium Metals is a Steger, Illinois based distributor of prime and secondary sheet, plate, and bar steel. The Company offers more than 800 different sizes, grades, and lengths of bar and nearly 150 sizes and grades of plate and sheet. The Company’s customers use secondary steel to produce parts and finished goods that will end up in a variety of end markets including railroads, construction, fabrication, tool and die making, machine shops, automotive, agricultural industries, and other distributors.
Headquartered in Highland Park, Illinois, Barsteel Corporation is a metals service center and full-service distributor of hot rolled, cold rolled, and coated steel products to a broad range of manufacturers throughout the United States, Canada, and Mexico. The Company has extensive mill resources, processing capabilities, and logistical support, making it well positioned to satisfy the steel requirements of customers.
“It was a pleasure to be represented by XLCS Partners and John Sheridan,” said Gene Laster, Millennium Metals co-founder. “John not only directed and guided us throughout the process but, even more, was a friend and someone we could confide in when difficult decisions were required. I will always be thankful for John’s guidance and friendship.”
“After many years spent building Millennium Metals, the owners wanted to explore options for one of the partners to retire while still allowing the other partner to continue with the company,” explained John Sheridan, Managing Director. “Both of their goals were achieved by joining together Millennium Metals with Barsteel.”
XLCS acted as the exclusive M&A advisor to Millennium Metals and the transaction was led by John Sheridan, Managing Director. The transaction was completed November 5, 2018.
About XLCS Partners
XLCS Partners, Inc. is an independent investment banking firm that provides M&A advisory, capital raising and debt advisory for select clients globally. Middle market companies and private equity funds rely on our creative solutions, thoughtful insight and truthful advice when considering exiting their companies, making strategic acquisitions, partnering with private equity sponsors and raising debt or equity capital.
More information is available at www.xlcspartners.com