Capital Steel has purchased Bar & Metals Inc. which processes and distributes the same products. Dustin R. Preston, president of Capital Steel, said in an interview Friday that the company expects to generate 30 percent more revenue per year from the acquisition, though he declined to disclose the annual revenue of either company. Terms of the deal were not disclosed.
The company serves a similar niche, in a similar market, to what Capital does, Preston said. The two companies purchase steel from the same mill suppliers, but looking at end-users, this acquisition opens the door to customers we didn't call on, he said.
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