The company is one of the largest metal service center businesses in the United States, and is a leading provider of value-added processed carbon steel, stainless steel, aluminum, red metals and manufactured metal components.

This is a private equity held company, and investment funds affiliated with Apollo Management, L.P. are the principal stockholders.  Some proceeds will go to the company and some to shareholders, although those percentages have not been set.  It also looks like the company will repurchase some or all of $300 million of senior floating rate notes with the proceeds. 

This company is also an amalgamation after mergers. The successor company is noted as having $1.8453 Billion in 2007 revenues, with after tax net income listed as $13.9 million.  Its three segments are as follows:

• Plates and Shapes Group (48% of 2007 net sales)
• Flat Rolled and Non-Ferrous Group (44% of 2007 net sales)
• Building Products Group (8% of 2007 net sales)

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Jon C. Ogg
May 19, 2008

Jon Ogg produces and edits the "10 Stocks Under $10" newsletter and he does not own securities in the companies he covers.