RIVERFRONT STEEL HAS BEEN ACQUIRED BY ALRO STEEL
Birmingham, Michigan – February 8, 2019 – Angle Advisors is pleased to announce that Alro Steel (“Alro”) has acquired certain assets of Riverfront Steel, Inc. (“Riverfront” or the “Company”). Angle Advisors acted as the exclusive investment banking advisor to Riverfront in completing this transaction. Katz Teller served as the legal advisor for Riverfront.
Founded in 1985 and based in Cincinnati, Ohio, Riverfront is a leading carbon steel service center principally serving the structural steel, construction and industrial fabrication markets throughout Ohio, Kentucky and Indiana. Owned by Brad Kuhr, the Company has grown to 85 employees operating out of a 115,000 sq. ft. location. Riverfront is known for carrying a large inventory of a wide variety of carbon steel products, including structural steel, bar products, sheet & plate, tube & pipe and a variety of specialty products. The Company also has a full range of processing capabilities that include plate processing (plasma and flame cutting), sawing, shearing, bending and forming. For more information, please visit www.riverfrontsteel.com.
Alro is focused on exceeding their customers’ expectations through superior service and outstanding teamwork across all locations. This acquisition will grow their customer base while providing improved service for cut-to-size metals and plastics. Alro Steel will operate out of the Riverfront Steel location at 10310 S. Medallion Dr., Cincinnati, OH 4524.
“We look forward to joining forces with a world-class leader like Alro to offer our combined customer base a comprehensive suite of best-in-class products and services,” said Mr. Kuhr. “We believe there is excellent potential to leverage Alro’s broad set of capabilities and products to grow our customer relationships.” He continued, “We would like to thank the team at Angle Advisors. They did an outstanding job of guiding our company through this process and their collective industry knowledge and transaction expertise proved critical to making this a highly successful transaction for all parties.”
Alro Steel was founded in 1948 by brothers Al and Robert Glick. The company is a distributor of metals, industrial supplies, and engineering plastics. Alro is focused on offering cut-to-size metals and plastics with next day delivery to 25,000 customers in North America. Alro operates over 70 locations in 12 states and provides a broad inventory of products under the following companies: Alro Steel, Alro Metals, Alro Metals Outlet, Alro Industrial Supply, and Alro Plastics. For more information, please visit www.alro.com.
Angle Advisors, with offices in the United States, Germany, and China, specializes in mergers and acquisitions and capital raising with a particular emphasis on the industrial and vehicular sectors. The firm's professionals have completed 201 transactions since 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.