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VRS Closes Mid-Market M&A Transaction for Multi-State Steel Company

Vogt, Resnick & Sherak, LLP (“VRS”) recently closed a middle market asset sale transaction for its client (“Seller”). Seller is a family owned steel and metal processing company that has been in business for over 80 years with locations in 4 states. Buyer is an industry leading steel and metal processor whose headquarters are in the eastern United States.

Seller has been one of the leaders in flat-rolled steel and metal processing with locations in California, New Mexico, Texas and Arkansas. Seller’s business model is focused on contract business with complex supply chain and inventory management for just-in-time deliveries. For over 80 years, Seller has maintained a reputation of excellent service across North America, servicing appliances, electrical, lighting, construction, HVAC, and automotive industries.

This complex transaction was completed in a very short time frame and included extensive due diligence, contract review, contract preparation, and coordination among multiple disciplines spearheaded by VRS’s team. VRS’ team included founding partner Barry Resnick, managing partner Jeff Resnick and associate attorney Jeannie Kang. VRS’ legal team worked closely with Seller and its tax, legal and financial advisors, Buyer’s team included in-house counsel, outside counsel and other legal, tax and financial advisors.