HOUSTON, TEXAS (November 15, 2023) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce the sale of TSA Processing (“TSA”) to Joseph T. Ryerson & Son, Inc. (NYSE: RYI) (“Ryerson Holding”). Statesman served as the exclusive sell-side financial advisor to TSA on the transaction.
SA Processing, founded in 1997 by Bill Tresten and Monte Sneed, has since grown to become one of the largest toll processers in the US for stainless steel and aluminum coil and sheet. Headquartered in Houston, TX, TSA’s other processing plants are located in Arlington, TX, Buford, GA, Montgomery, IL, Pittsburgh, PA, and Richmond, IN. TSA processing services include cut-to-length plate and sheet, slitting, polishing, buffing, and other custom and specialty finishes.
TSA will continue to serve its customers with world-class toll-processing capabilities under the leadership of Mr. Tresten and Mr. Sneed as it has for over 30 years.
Monte Sneed stated, “TSA brings over 30 years of experience in non-ferrous flat-rolled processing to the Ryerson network. We are excited to join the Ryerson family and to continue growing our business and extending our commitment to quality and service to new customers across our geographies.”Dave Sargent, Statesman Sr. Advisor who co-led the transaction with Statesman co-founder Walter Tomlinson, noted; “Bill and Monte sold the first business they started together to British Steel in 1990 and this transaction is evidence they have been serial entrepreneurs since. Bill and Monte should teach a class on how to create and sustain long-term successful co-founder relationships!”
“We learned about Statesman through a friend who was also a past client of Statesman. From the start, we were impressed with their professionalism and just the “plain talk” we received. Their understanding of the market and the process was confidence building for us, and their experience steered us through a complicated process very successfully. We were impressed with everyone in their support staff and all the work they did to take as much of the burden off us as possible. We are incredibly happy we called on Statesman to represent us”. – Bill Tresten on Statesman’s role.
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, Principal, David Sargent, Senior Advisor, David Carrasco, Director, Sarah Dibbern, Vice President, Nathan Hurst, Vice President, and Sam Cancienne, Senior Analyst.
Ryerson Holding (Chicago, IL) founded in 1842, is a leading value-added processor and distributor of industrial metals with operations in the United States, Canada, Mexico, and China. Ryerson has around 4,300 employees in approximately 100 locations.