USA acquires Richardson Trident Company
Metals USA Holdings Corp., a provider of processed
carbon steel, stainless steel, aluminum and other metals, has
closed the acquisition of The Richardson Trident Company.
The acquisition of Trident represents Metals USA’s third acquisition
since its IPO last April. With sales for the 12 months ending
December 31, 2010 at approximately $148 million on 23,000 shipped
tons, Trident is also the largest company acquired by Metals
USA so far. With the addition of Trident’s eight processing centers
located in Texas, Oklahoma, Georgia, California and Massachusetts,
Metals USA significantly increases its geographic coverage toward
desired target markets in the Southeast, South central, Northeast
and the West Coast of the United States.
Founded in 1962, Trident is a provider of nonferrous products.
They supply a host of services such as precision sawing, boring,
honing, slitting, sheeting, shearing and tuning. In 2010, aluminum,
stainless steel and nickel sales represented 39 percent, 19 percent
and 17 percent of Trident’s revenues, respectively.
The majority of Trident’s revenues are generated by supplying
products to a blue chip customer base in the fast growing and
highly profitable oil and gas field services market. Trident
also has significant exposure to other attractive sectors such
as aerospace, defense and transportation. This acquisition enhances
Metals USA’s position and market-share within these four sectors.
Mike Cooney, Metals USA’s president of nonferrous, will relocate
to Dallas, assuming direct responsibility for Trident’s operations
while continuing to lead all of Metals USA’s nonferrous business.
Metals USA will operate the newly acquired business under its
current name, The Richardson Trident Company.