Brown Gibbons Lang & Company (BGL) announced today the sale of its client, Ferguson Metals, Inc. (Ferguson Metals), to O’Neal Steel, Inc., marking its third sale to the metals giant in the past 18 months.
Starting with five employees and a 5,000 square foot warehouse, Aerospace Alloys, now Ferguson Metals, was founded in 1982 by H. Wayne Ferguson. Since its inception, Ferguson Metals’ focus has been on providing a comprehensive inventory of specialty stainless steels and high temperature alloys, making the company one of the preferred sources for quality stainless steel sheet and coil product to the aerospace market. Today, Ferguson Metals is not only the preferred source for sheet and coil product in the aerospace industry, but also sources product to a broad spectrum of industries, including automotive, medical, and petrochemical.
Ferguson Metals engaged BGL to manage the sale process based on the firm’s extensive and proven experience in the metals industry, including several recently closed and pending transactions.
“We were initially attracted to BGL based on the firm’s relationships within the service center community and their history of past and recent relevant metals engagements. As the process moved forward, it became very clear that their ability to leverage such expertise into a seamless and expeditious process targeting the ‘right’ partner for Ferguson was the true driver of value in the transaction. We couldn’t be happier with the outcome,” said Wayne Ferguson, president of Ferguson Metals.
“Wayne and the Ferguson Metals team have done a remarkable job in securing a stronghold in delivering stainless steel sheet and coil product to the aerospace market and making significant advances in value-added processing. Such traits, along with their ability to leverage product and processing expertise into new customers and complementary markets garnered the Company’s premium value and attractive long-term partnership with one of the industry’s most respected service centers in O’Neal Steel,” said Scott Berlin, managing director & principal at BGL.
O’Neal is a leading full-line metals service center, stocking a vast inventory of diverse materials at its nearly 70 strategically located district operations across the country. O’Neal, which is the largest family-owned metals service center in the United States, also provides its customers with high-quality multi-stage metals processing. Additional information about O’Neal is available at www.onealsteel.com.