Contractors Steel Company Joins Union Partners
CHICAGO, May 17, 2018 /PRNewswire/ -- Chicago based Union Partners announced effective May 16, 2018 that it has acquired Contractors Steel, a leading steel service center that serves North America from five strategic locations in the Midwest. Contractors Steel maintains over 100,000 tons of carbon and structural plate, beams, pipe, tube, angles, and channels, to name a few products, within 2.1 million square feet of indoor and outdoor storage space. Founded in 1960 by Don Simon, Contractors Steel built their reputation on having one of the largest inventories of a wide variety of carbon and structural steel products to service their customers within 24 hours.
Contractors also has a full range of processing capabilities that include long product, laser cutting, drilling, tapping, machining, cambering, grinding, saw cutting, shearing/press breaking, plate and structural rolling, plate processing, and plate burning. Known for their dedication to superior customer service, their facilities operate 24 hours a day and they maintain a fleet of over 90 trucks to meet customer demands. Through the years, the Contractors' name has remained synonymous with the values of respect, hard work and excellence.
"Contractors Steel is a company where entrepreneurialism and family values took hold decades ago – a model we are replicating with Union Partners today. We are honored to welcome Contractors to the family and humbled that Don Simon, who is greatly admired in the industry, has chosen us to carry on his legacy," stated Chris Hutter and Paul Douglass, co-founders of Union Partners. "Further, we have had the opportunity to work with Marc Bokas during the acquisition process and are pleased to announce that he will succeed Mr. Simon as CEO of Contractors Steel. Marc has demonstrated the passion, drive and knowledge of Contractors and we look forward to growing the legacy of the company with him."
"I am extremely grateful to have been able to serve the steel industry for as long as I have," stated Don Simon, founder of Contractors Steel. "Throughout my 60 years in the industry, I have seen a lot of changes occur and rather than shy away, my team and I embraced these shifts as opportunities to grow the business. I see that same mindset in Union Partners and believe in their determination and ability to breathe new life into the steel service center industry. I could not be happier that the legacy of Contractors, and the fantastic workforce that supports it, will continue to thrive under Union Partners' strong vision and stewardship."
Marc Bokas, CEO of Contractors Steel, added, "Union Partners' acquisition of Contractors Steel Company opens a whole new range of opportunities for our employees and customers. Their innovative, professional and forward-looking approach to business and innovation will drive us to enhance our performance in all ways and to become a top employer and supplier in our industry. The future never looked brighter. Combining the best practices and policies of Contractors Steel Company along with those of the Union Partners' family of companies, we shall strive to produce an optimum operating entity that will meet or exceed all industry standards and expectations. I greatly appreciate this opportunity and look forward to a fantastic future for myself and all of Contractors Steel Company employees."
The strategic acquisition of Contractors provides further expansion for Union Partners as they focus on increasing their geographical reach and product offerings to better attend to their customer base across North America. Contractors joins Union Partners' family of companies that includes Maksteel, Lamination Specialties, Mapes & Sprowl, Cortran, Lee Steel, Chicago Steel, Berg Steel, JIT Steel Service, JIT Steel Transport, Opus Metals and its greenfield development on the campus of Big River Steel.
Angle Advisors acted as the exclusive investment banking advisor to Contractors Steel in completing this transaction.
For more information on Union Partners, please visit their website at www.unionpartnersllc.com.
About Union Partners
Chicago based Union Partners I LLC is a hands-on, full-service metals and logistics company. Their steel service centers specialize in metal distribution and processing, and related logistics services. 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.
SOURCE Union Partners I LLC
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