Ryerson Holding Corp. and Olympic Steel Inc. have completed their merger, creating the second-largest metals service center operator in North America and intensifying competition across the wholesale metals distribution sector.
The deal closed on Friday. Under the agreement, Ryerson issued 1.7105 shares of its stock for each share of Olympic Steel. Former Olympic Steel shareholders now own about 37% of the combined company. The company will begin trading Feb. 24 on the New York Stock Exchange under the ticker symbol RYZ.
The combined company brings together Ryerson’s 106 locations and 4,300 employees with Olympic Steel’s 53 facilities. Together, they distribute and process carbon steel, stainless steel, aluminum, plate and coil products, pipe and tube, and other metal products for industrial customers across North America.
Company executives said the merger strengthens their geographic reach and product mix, allowing them to serve customers more quickly and offer a broader range of processing services.
“The union of Ryerson and Olympic Steel unlocks tremendous growth opportunities across our now combined network of service centers,” Ryerson CEO Eddie Lehner said in a statement. He said customers should see “greater speed to market” and a wider selection of products and services.
Richard T. Marabito, former CEO of Olympic Steel and now president and chief operating officer of the combined company, said the companies expect to expand cross-selling opportunities and improve the use of shared facilities and equipment.
For independent metals service centers and regional distributors, the merger signals continued consolidation in a market long known for its fragmentation.
The combined company said it expects to achieve about $120 million in annual cost savings by early 2028, through purchasing efficiencies, streamlined operations and facility optimization.
Greater scale typically gives large distributors more leverage when buying from mills and suppliers. It can also allow them to carry deeper inventories and serve national customers across multiple regions. That may increase pressure on smaller competitors that operate in limited geographies or narrower product categories.
Large industrial customers could benefit from broader coverage and more consistent service across locations. At the same time, competitors may face tougher pricing and a more formidable rival when bidding for contracts.
Metals distribution is closely tied to manufacturing, construction, and energy markets, all of which can shift quickly with economic conditions. Larger distributors often have more flexibility to adjust inventory levels and manage supply swings during downturns.
The companies said the merger comes as both organizations complete major investment cycles and see signs of improving manufacturing demand.
The merger marks one of the most significant combinations in the metals service center industry in recent years. For wholesale distributors across industrial and building-product markets, it reinforces a clear message: scale and geographic reach are becoming increasingly important in a competitive and cyclical business.
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