Worthington Steel has entered into a Business Combination Agreement with Kloeckner & Co.
Listed in Germany, Kloeckner & Co is a major service center and metal processing company with approximately 110 locations across North America and Europe. Over the past few years, Kloeckner has been transitioning toward high value-added processing and fabrication via M&A and strategic growth initiatives.
The proposed acquisition represents a strong strategic fit and advances Worthington Steel’s growth strategy by strengthening its position in the North American metal processing sector.
It will create a larger and more diversified metals processing pioneer with an enhanced product offering and broader geographic reach. Once completed, the transaction will position Worthington Steel as the second major steel service center company in North America by revenue.
The transaction broadens Worthington Steel’s product portfolio, end market exposure and geographic footprint. The combined company will benefit from greater scale, shared best practices and operational efficiency. Together, Worthington Steel and Kloeckner & Co will build upon their shared focus on safety, quality and operational excellence.