Chicago-based metals processor and distributor Ryerson Inc. acquired the Houston, Texas-based steel plate fabricator Texas Steel Processing, Inc. The acquisition followed Ryerson’s filing for an initial public offering earlier in the week.
Ryerson expects the acquisition to strengthen its presence in the region. The company’s executive vice president and chief financial officer, Terence R. Rogers, said the transaction would “expand our product offering and capabilities in the Houston market.” Platinum commented that the portfolio company would continue to evaluate additional acquisitions and add-on opportunities.
Platinum acquired Ryerson in July 2007 in an all-cash transaction.