Aperam S.A., a global leader in stainless, specialty steel solutions and recycling has announced the signing of a definitive agreement to acquire Universal Stainless & Alloy Products, Inc., a leading manufacturer of specialty steel products for critical Aerospace & Industrial applications in the U.S., at $45.00 per share. This all-cash transaction, expected to close in H1 2025, values Universal at an approximate enterprise value of $539 million. The acquisition aligns with Aperam’s strategy to bolster its market position and diversify its geographic presence and product range, particularly within high-growth aerospace and industrial sectors in the US.
Universal, headquartered in Pennsylvania, is projected to generate revenues of around $330 million and an EBITDA of approximately $70 million in 2024. As an established supplier of specialty steels, this acquisition is expected to yield recurring annual synergies of $30 million. It will also enable a comprehensive product portfolio, promote shorter lead times, reduce supply risk, and enhance global customer service.
The transaction will leverage the absence of overlapping assets or commercial offerings, opening new markets across Europe and the U.S. for both companies. Timoteo Di Maulo, CEO of Aperam, views this acquisition as a strategic commitment to diversify into specialty stainless steel and alloys. He believes that partnering with Universal will enable the delivery of superior, high-quality solutions to meet the growing demand for sustainable growth and innovation.
Christopher Zimmer, CEO of Universal, emphasizes that the merger will accelerate their growth momentum, driven by their strong position in the aerospace and industrial markets. This deal has been approved by both companies’ boards of directors and is pending majority shareholder votes from Universal and customary regulatory approvals.
