Shamrock Steel Has Been Acquired by Triple-S Steel
HOUSTON, TEXAS (September 16, 2019) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that Shamrock Steel Sales, Inc. (“Shamrock” or “Shamrock Steel”), Odessa, TX, has been acquired by Triple-S Steel Holdings of Houston (“Triple-S Steel” or “Triple-S”). Statesman served as the exclusive financial advisor to Shamrock throughout the transaction, which closed September 3, 2019.
Shamrock Steel was founded in 1956 and was owned prior to the sale by three sons and two grandsons of the five founding Williams family brothers. Shamrock is the largest general lines steel service center and distributor of structural steel located in the Permian Basin. Shamrock also shears, shapes and rolls steel plate and sheet and does light rebar and structural fabrication.
Gary Stein, CEO of Triple-S Steel commenting on the transaction stated “Shamrock represented an excellent opportunity to expand our coverage in Texas and add a highly strategic location in the Permian Basin. As a second-generation family business, Shamrock shares a lot of similarities with Triple-S, from its strong family culture and customer centric focus, to the three “S”s in the name. Shamrock has established a dominant presence in this region that we are excited about adding to the Triple-S family of companies”
Terry Williams, shareholder and President of Shamrock stated, “This is a big event in the history of Shamrock. Combining with Triple-S will significantly expand our capabilities to provide a greater range of materials and services to our customers and provide more growth opportunities for all of our employees. It is an honor to the Williams family knowing the future of our family business is now in the good hands of the Triple-S family.”
Further commenting on the transaction, Terry Williams stated. “We are most grateful to the Statesman team for their assistance in preparing us for the process and their experience in completing transactions of this nature, for which we were truly unaware of the intricacies involved. They earned our complete trust and confidence and were of invaluable service guiding us throughout the process of the sale of our business”
About the other transaction participants
Statesman Corporate Finance, LLC is the FINRA-licensed broker dealer affiliate of Statesman Business Advisors, LLC. With offices in Houston and Austin, Texas, Statesman is a leading middle-market investment banking firm providing merger and acquisition, capital formation, valuation and other general corporate financial advisory services to middle-market companies. The Statesman team advising on this engagement was led by Principal Walter Tomlinson, with the support of Senior Associate David Carrasco, and Analyst Nathan Hurst.
Triple-S Steel Holdings, Inc. was founded in Houston in 1960. Today it encompasses over 35 locations in the U.S., Canada and Columbia. The Company ranks among the largest privately-owned steel service centers in the world.