Oil and gas industry-focused Commercial Steel Products (CSP) has acquired Houston-based Ace Steel Supply (Ace) in a stock purchase agreement. This acquisition is an alignment of mutual strategic interests between the two privately held steel companies.
Thomas Sfikas, president of CSP, commented that the intent of the acquisition is to improve each company’s capabilities in better serving customers. “We see the purchase of Ace Steel Supply as an integral step in our continued growth and success providing value-added services and products to our customers. This will enable us to continue to expand our product diversification while at the same time capitalizing on our synergies. It’s an exciting move for both of us, and I look forward to working closely with the entire Ace team.”
Satish Gupta, founder, and CEO of Gupta Capital Group (GCG) and chairman of the SB Group of Companies, stated, “I’m pleased to welcome Ace Steel Supply to the SB family. This combination adds significant value to both companies, and we are excited to give the strong team at Ace the resources it needs to enhance its already impressive performance.”
Bruce Margolin, vice president and COO of Ace, said, “We’re delighted to become part of CSP. We will continue working independently while leveraging resources from CSP and Gupta Capital Group. This move will strengthen our internal capabilities and provide immediate benefits to our customers.”
Gupta Capital Group is a single-family office engaged in sustainably growing a diversified portfolio of operating businesses focused on the steel and metals industries. In addition to its portfolio companies, GCG manages a large, diversified portfolio of investments across a range of sectors including private equity, real estate, and private debt.
Located in Dallas, Commercial Steel Product is a leading value-added supplier of high-quality steel products, mostly focused on tubular products for the oil and gas industry. With over 100 years of experience, CSP has established customer and supplier relationships throughout North America and around the world. CSP is committed to providing our valued customers with innovative and creative sourcing solutions and services through strategic partnerships worldwide.
Ace Steel Supply has over 50 years of combined experience in the steel industry. Ace specializes in sheet and plate products in stainless, aluminum, galvanized, galvanneal, galvalume, cold rolled, and hot rolled carbon steel.
