It is a milestone day for us at Pacesetter! After an extensive and rigorous succession planning process, we have selected Flack Global Metals (FGM) as our strategic partner and entered into an agreement with FGM pursuant to which FGM will acquire a majority ownership stake in Pacesetter’s business.
“FGM’s long-term view for investing was the first quality that really set them apart from the VC and PE firms who were interested in investing in us,” said Del Land, Pacesetter President. Steve Leebow, Pacesetter’s Founder & CEO added, “Of course, we knew FGM for its leadership in risk management and hedging within the industry. But once we dug deeper, we saw how much experience they have in M&A activities and integration and innovative operations management. We quickly understood how its expertise on the financial side and our prowess on the physical side could truly complement each other.”
Read the full UPDATED release here: https://lnkd.in/et9VsgWJ
The updated release now includes the following verbiage:
"NSPS Metals LLC, Pacesetter’s joint venture with Nippon Steel Trading Americas, Inc., which is an affiliate of Nippon Steel, will not however be a party to the transaction, and its assets, including NSPS’s service center facility located in Houston, will not be assets covered by the resulting FGM-Pacesetter partnership."
#Pacesetter #FlackGlobalMetals #Steel #Investment #HRC #Metals
