Ryerson Holding Corporation, a leading value-added processor and distributor of industrial metals, and Olympic Steel, Inc., a major U.S. metals service center, have signed a definitive agreement to merge. The merger will strengthen the combined company’s position as the second-largest metals service center in North America and brings together complementary footprints, capabilities, and product offerings within Ryerson’s interconnected network of value-added service centers.
The transaction is expected to generate approximately USD 120 million in annual synergies by the end of year two through procurement scale, efficiency gains, commercial enhancement, and network optimization.
Under the terms of the agreement, Olympic Steel shareholders will receive 1.7105 Ryerson shares for each Olympic Steel share owned, representing roughly 37% ownership of the combined company. The merger is expected to be immediately accretive to shareholders and reduce the pro-forma leverage ratio to below three times, factoring in partial synergy credit. The deal is projected to close in Q1 2026.