Waypoint Private Capital is pleased to announce the sale of Tulsa Centerless to Specialty Steel Works.
Waypoint Private Capital served as exclusive sell-side M&A advisor to Tulsa Centerless Bar Processing, Inc. (“Tulsa Centerless”) on its sale to Specialty Steel Works, Incorporated (“SSWI”). The acquisition of Tulsa Centerless expands SSWI’s customer base and with this acquisition the company now operates six strategically located production facilities in the Midwest. Tulsa Centerless was founded in the 1960’s and is headquartered in Tulsa, Oklahoma. The Company is a regional leader in precision bar grinding and provides bar/shaft straightening, induction heat treating, and shaft and parts machining. Tulsa Centerless uses advanced methods to process various steel grades, red metals, nickel products and exotic metals to exacting specifications and requirements. The Company provides resources to metal distributors, OEMs, machine shops, and steel mills in 22 states throughout the U.S. SSWI, headquartered in Hammond, Indiana, is North America’s leading manufacturer and processor of value-added specialized steel products including high-quality engineered cold finished steel bars and precision-tolerance, cold drawn seamless tubes. SSWI has four wholly owned subsidiaries: Hammond, IN-based Niagara LaSalle Corporation, Cicero, IL-based Corey Steel Company, South Lyon, MI-based Michigan Seamless Tube, LLC, and now including Tulsa, OK-based Tulsa Centerless Bar Processing, Inc. "Deciding to sell wasn’t an easy decision. Waypoint Private Capital helped us find the right path. The Waypoint team led us through their sell-side process and were always there to answer our questions. I highly recommend Waypoint Private Capital to any business owner who is considering selling their business,” said Evan Hudson, CEO and former owner of Tulsa Centerless. “Waypoint Private Capital found the perfect buyer for our business. SSWI is a leader in the steel industry and with their capabilities, products, and resources, we are confident our customers will be well taken care of.” Michael Salamon, CEO and President of SSWI stated, “I am pleased to welcome Tulsa Centerless into the SSWI family of companies. SSWI, its management team and employees are delighted by this opportunity to continue to solidify its position in the specialty steel industry and to strengthen relationships with its customers and suppliers. Working with Waypoint Private Capital on this acquisition made the transaction much easier and more efficient. The professionals at Waypoint are excellent at what they do.”
About Waypoint Private Capital
Waypoint Private Capital is an investment banking firm that advises the owners and management teams of middle-market companies through critical stages of their business' life cycle. Waypoint helps business owners sell companies, buy companies, raise equity and debt capital for growth and recapitalization, and plan for a successful exit from their business.
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