Katy Steel Has Been Acquired by Groupe AGF Inc. (Quebec, Canada)
27.01.2025
HOUSTON, TEXAS (January 27, 2025) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce the recent acquisition of Katy Steel Company, Inc. (“Katy Steel” or “the Company”) by Groupe AGF Inc. (“AGF”) through its wholly-owned subsidiary AGF Group US, Inc. The transaction closed on November 30, 2024. Statesman served as the exclusive sell-side financial advisor to Katy Steel on the transaction.
Katy Steel, founded in Katy, Texas, in 1976 and led by second-generation owner Scott Rupard, ranks among the largest independent suppliers by volume in the US of reinforcing steel “rebar” components fabricated to engineered specifications and utilized in a broad array of applications across industrial, municipal, civil, and commercial construction projects. Katy Steel will continue to operate with its existing management team as a standalone subsidiary of AGF.
Mr. Rupard stated “This is a transformative event in the history of Katy Steel. As I began thinking about a transition of ownership, Statesman played a critical role in helping me think through the process, prepare for a transaction, and identifying an acquirer that aligned with our core values of integrity, honesty, outstanding customer service, and commitment to the well-being of our employees. I believe AGF is that ideal partner and I am excited about the added capabilities this transaction brings to better serve our customers and create greater opportunity for the growth of our employees. A perfect alignment with what I was seeking!”
Groupe AGF comprises of twenty-eight business units established in Canada, Chile, Peru, Colombia, Costa Rica, France, the French Antilles, Ecuador and India. Katy Steel marks AGF’s first acquisition of a US-based company and launches its geographical expansion into the U.S. Market.
Mr. Maxime Gendron, President and CEO of Groupe AGF, stated “Katy Steel represents more than a strategic acquisition. It is a natural union between two companies that share fundamental values of integrity, operational excellence, and an unwavering commitment to serving their clients. As our first acquisition in the United States, this milestone is deeply meaningful and reflects our long-term vision to expand into this key market. The family legacy upheld by Scott Rupard is an inspiration that mirrors our own history, and we are proud to preserve and strengthen this corporate culture. By integrating Katy Steel into the AGF family, we are combining our strengths to better meet the needs of infrastructure projects while honoring the strong relationships they have built over decades with their clients and employees.”
About the other transaction participants
Statesman Corporate Finance, LLC (Houston & Austin, TX) 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 included Walter Tomlinson, Managing Member, Directors David Carrasco and Mark Vance, and Vice President Nathan Hurst.
Adams and Reese LLP (Mobile, AL) provided legal counsel to Katy Steel, led by the firm’s corporate services team across its footprint, including David Johnson, Brian Smithweck, Bradley Sanders, and Caleb Smoke (Mobile); Rob Fowler (Birmingham); Sean Buckley (Houston); Alex Bondurant (Jackson), and Rob Breunig and Edward Playfair (Nashville).
Miller Grossbard Advisors (Houston, TX) provided accounting and tax counsel to Katy Steel, led by Partner, David Long and Principal Kathyrn Sanders.
Holland & Knight (Dallas, TX) provided legal counsel to Buyer, led by corporate partner Jeremiah Mayfield and corporate associate Trysten Henderson with assistance from David Thaxton, Neely Munnerlyn, Tony Campiti, Brandon Bloom, Ashley Phillips, Arthur Lotz, Barbara-Ellen Gaffney, Emily Nguyen, Amir Saboorian, Amy Marino, Charnae Supplee and Jose Almanzar.
PwC (“PWC”) (Montreal, Canada) provided accounting and tax counsel to Buyer, led by Partners Alexandre Prokhoroff and Bruno Godin, Managers Reem Abdelaal, Spiro Dimitropolus, Antoine Gleeton and Anthony Provencher.
