NEW YORK, NY / ACCESSWIRE / December 17, 2019 / V&A Capital ("V&A") is pleased to announce that it has partnered with the management team of Federal Steel Supply ("FSS" or the "Company") to acquire the Company from its founders.
Founded in 1979 and based in St. Louis, MO with a distribution facility in Houston, TX, FSS is a leading value-added distributor of industrial piping, fittings, flanges and other related products for pressure sensitive applications. The Company services customers who operate in a variety of industries such as food processing, oil & gas, power generation, telecommunication, and other end-markets. These customers value the Company's ability to respond rapidly to their piping needs, particularly for less common grades of carbon or alloy pipe, as well as its ability to provide value added services such as cutting, machining, testing and other services.
"Federal Steel Supply is a great company with a long history of providing its customers with value-added products and services. We are extremely excited to support the Company's growth by expanding its geographic footprint, increasing its product offerings, entering new end-markets and searching for complimentary add-on acquisitions. V&A Capital has a significant amount of experience in the metals manufacturing and distribution industries and will leverage its expertise and network of operating executives to achieve its growth goals. Furthermore, FSS represents a nice fit within the V&A's network of businesses, potentially providing for additional growth through synergies with other portfolio companies," according to Nirav Amin, Partner and head of V&A's Chicago office.
Scott Harris, CEO of Federal Steel Supply, says, "V&A Capital was great to work with throughout the sale process. Their attention to detail, constructive approach to issues, familiarity with challenges common to owner-operated businesses and expertise in manufacturing and distribution businesses were key to selecting them as a partner as well as for the future success of FSS and its employees."
Webster Business Credit Corporation, a subsidiary of Webster Bank N.A., provided the financing to support the acquisition and Loeb & Loeb LLP acted as legal counsel to V&A Capital.
About V&A Capital
V&A Capital seeks majority ownership in profitable, well-run companies in North America and Europe with an EBITDA ranging from $1 million to $10 million. V&A invests primarily in the manufacturing and distribution industries but also seeks to acquire companies in the business services, consumer goods, packaging and transportation sectors. V&A's nimble and highly experienced team has an extensive and successful track record of investing in family-owned or owner-operated businesses, working in partnership with them and management teams to pursue growth while respecting and maintaining the company's history and culture.
For more information about V&A Capital, contact the company here:
1271 6th Ave #4300, New York, NY 10020
SOURCE: V&A Capital
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