Ryerson Acquires BLP Holdings, LLC

Rhea-AI Summary

On March 2, 2023, Ryerson Holding Corporation (NYSE: RYI) announced its acquisition of BLP Holdings, LLC, which includes three divisions based in Houston, Texas: Absolute Metal Products, Metal Cutting Specialists, and Houston Water Jet. This acquisition aims to enhance Ryerson's high-margin, value-added services in industrial metals, particularly in complex fabrication and toll processing. President Alan Singleton highlighted the strategic importance of this acquisition for diversifying service offerings and strengthening the company's service-center network.

Positive

• Acquisition of BLP Holdings enhances Ryerson's service offerings and capabilities.
• Increased focus on high-margin, value-added business through advanced processing solutions.
• Strengthens Ryerson's competitive position in the industrial metals sector.

Negative

• None.

CHICAGO, March 2, 2023 /PRNewswire/ -- Ryerson Holding Corporation (NYSE: RYI), a leading value-added processor and distributor of industrial metals, announced today its acquisition of BLP Holdings, LLC ("BLP"). BLP is comprised of three divisions based out of Houston, Texas: Absolute Metal Products, Metal Cutting Specialists, and Houston Water Jet. Serving industries including oil and gas, aerospace, telecommunications, and structural fabrication, the three divisions together provide complex fabrication services in addition to toll processing capabilities such as saw cutting, machining, and water jet cutting.  

"BLP and its divisions offer advanced processing solutions aligned with our commitment to growing our high-margin, value-added business," said Alan Singleton, Ryerson's President, West Region. "Our investment in BLP provides an opportunity to further diversify our offerings, including additional toll processing services, as we strengthen the capabilities of our Ryerson service-center network. With this acquisition, we are pleased to welcome BLP Holdings to the Ryerson Family of Companies."

"The capabilities of our divisions in cutting, water jet, and advanced fabrication make up a collective expertise in metal processing complimented by a strong commitment to customer service," added Richard Rose, principal owner of BLP Holdings. "We are pleased to bring the legacy and cumulative experience of our brands to Ryerson."

About Ryerson

Ryerson is a leading value-added processor and distributor of industrial metals, with operations in the United States, Canada, Mexico, and China. Founded in 1842, Ryerson has around 4,200 employees in approximately 100 locations. Visit Ryerson at www.ryerson.com.

Safe Harbor Provision

Certain statements made in this presentation and other written or oral statements made by or on behalf of the Company constitute "forward-looking statements" within the meaning of the federal securities laws, including statements regarding our future performance, as well as management's expectations, beliefs, intentions, plans, estimates, objectives, or projections relating to the future. Such statements can be identified by the use of forward-looking terminology such as "objectives," "goals," "preliminary," "range," "believes," "expects," "may," "estimates," "will," "should," "plans," or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy. The Company cautions that any such forward-looking statements are not guarantees of future performance and may involve significant risks and uncertainties, and that actual results may vary materially from those in the forward-looking statements as a result of various factors. Among the factors that significantly impact our business are: the cyclicality of our business; the highly competitive, volatile, and fragmented metals industry in which we operate; the impact of geopolitical events, including Russia's invasion of Ukraine and global trade sanctions; fluctuating metal prices; our indebtedness and the covenants in instruments governing such indebtedness; the integration of acquired operations; regulatory and other operational risks associated with our operations located inside and outside of the United States; the ownership of a significant portion of our equity securities by a single investor group; work stoppages; obligations under certain employee retirement benefit plans; currency fluctuations; and consolidation in the metals industry. Forward-looking statements should, therefore, be considered in light of various factors, including those set forth above and those set forth under "Risk Factors" in our annual report on Form 10-K for the year ended December 31, 2022, and in our other filings with the Securities and Exchange Commission. Moreover, we caution against placing undue reliance on these statements, which speak only as of the date they were made. The Company does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events or circumstances, new information or otherwise.

Legal Disclaimer

The contents herein are provided for general information purposes only and do not constitute an offer to sell or buy, or a solicitation of an offer to buy, any security ("Security") of the Company or its affiliates ("Ryerson") in any jurisdiction. Ryerson does not intend to solicit, and is not soliciting, any action with respect to any Security or any other contractual relationship with Ryerson. Nothing in this release, individually or taken in the aggregate, constitutes an offer of securities for sale or buy, or a solicitation of an offer to buy, any Security in the United States, or to U.S. persons, or in any other jurisdiction in which such an offer or solicitation is unlawful.

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SOURCE Ryerson Holding Corporation

FAQ

What are the details of the Ryerson acquisition of BLP Holdings?

Ryerson acquired BLP Holdings, which consists of three divisions in Houston, Texas, focusing on complex fabrication and toll processing services.

How will the acquisition of BLP Holdings impact Ryerson's business?

The acquisition is expected to diversify Ryerson's offerings and enhance its capabilities in the high-margin, value-added industrial metals market.

When was the acquisition of BLP Holdings announced?

The acquisition was announced on March 2, 2023.

What is the strategic importance of acquiring BLP Holdings for Ryerson?

The acquisition allows Ryerson to strengthen its service-center network and better meet customer demands through advanced processing solutions.

What are the divisions involved in the BLP Holdings acquisition?

The divisions are Absolute Metal Products, Metal Cutting Specialists, and Houston Water Jet, all located in Houston, Texas.