Metals distributor Alro Steel lands majority investment from Lindsay Goldberg
- Randy Glick serves as CEO and chairman of Alro Steel
- Alro operates over 80 locations in 16 states
- The transaction is expected to be completed by the end of October
Lindsay Goldberg has made a majority investment in Alro Steel, a Jackson, Michigan-based distributor of metals and performance plastics. No financial terms were disclosed.
The Glick family, which founded Alro Steel in 1948, will retain a significant ownership stake.
The Alro Steel name, brand, and daily operations will remain unchanged.
Randy Glick serves as CEO and chairman of Alro Steel.
“Randy and the entire team at Alro Steel have built an exceptional business with a well-earned reputation for excellence in the metals industry,” said Michael Dees, managing partner at Lindsay Goldberg, in a statement. “Our goal is to act as a catalyst for their continued success. We are committed to supporting Alro’s future growth by providing the strategic guidance and capital needed to expand, all while ensuring that Alro’s workforce, culture and name remain firmly at the top of the metals service center industry.”
Alro operates over 80 locations in 16 states.
The transaction is expected to be completed by the end of October.
J.P. Morgan acted as the exclusive financial advisor to Alro Steel in completing this transaction.
