Union Partners-owned Maksteel acquires LexWest Steel

Maksteel has acquired LexWest Steel, a Los Angeles-based full-line distributor of flat-rolled steel products in the United States. No financial terms were disclosed for the deal, which will see LexWest rebranded as Maksteel USA. Based in Mississauga, Ontario, Maksteel is a steel service centre and processor. It was acquired last year by Union Partners, a U.S. metals and logistics private equity firm, from Welded Tube of Canada Group of Companies. Union Partners said the acquisition of LexWest expands Maksteel's geographic footprint and processing capabilities. It increases the company's North American facilities to nine.

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