XCEL STEEL PICKLING, INC. HAS BEEN ACQUIRED BY UNION PARTNERS I LLC
Birmingham, Michigan – October 22, 2018 – Angle Advisors is pleased to announce that Union Partners I LLC (“Union Partners”) has acquired the assets of Xcel Steel Pickling, Inc. (“Xcel”). Angle Advisors acted as the exclusive investment banking advisor to Xcel in completing this transaction.
Based in Dearborn, Michigan, Xcel offers a push/pull pickling line capable of processing hot rolled, high strength low alloy, and advanced high strength steel coils up to 72″ wide and 400,000 tons per year. Xcel operates from a 290,000 square foot facility that includes an active rail spur. The division has joined Union Partners-owned Maksteel and will now operate under the name Maksteel Processing. This addition cements Union Partners' strategy of enhancing and streamlining capabilities and services across their companies to enable a seamless experience for their customers throughout North America. Maksteel Processing will also invest in significant upgrades to its facility and equipment, starting immediately.
"Union Partners has a demonstrated history of successful acquisitions and I am confident our pickling team and operations will flourish as they enter this new chapter," said Xcel CEO Connie Ardelean. “We are excited to continue to receive the same great pickling services from Maksteel Processing only now as an outside customer. The Detroit location of Xcel will continue its existing slitting operations, under its current ownership.”
"We are thrilled to announce the acquisition of Maksteel Processing [formerly Xcel Steel Pickling]," said Union Partners co-founders Chris Hutter and Paul Douglass in a joint statement. "This was a clear decision for us; not only are we gaining equipment capabilities, but also a strategic rail-served location in the heart of mill and automotive country. With this addition, we look forward to becoming an even more convenient one-stop-shop to our customers." For more information, please visit www.maksteel.com.
Union Partners, of Oak Brook, Illinois, is a hands-on, full-service investment holding company focused on acquiring portfolio companies in the metals and logistics industries for long-term ownership. Union Partners has affiliated and portfolio companies located throughout the United States with operations in California, Illinois, Indiana, Tennessee, Texas and Michigan. Founded by families with multi-generational experience in steel, real estate and logistics, Union Partners is able to provide the strategic vision, capital and resources to ensure that all of its stakeholders are positioned for success. For more information, please visit www.unionpartnersllc.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 197 transactions since 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com.