Niagara LaSalle Corporation (Niagara LaSalle) has entered into a definitive agreement to be acquired by strategic buyer Optima Specialty Steel, Inc.
Pursuant to the merger agreement, Optima Specialty Steel will acquire 100% of Niagara LaSalle, a portfolio company of US private equity firm Kohlberg & Company. Harris Williams & Co is acting as the exclusive advisor to Niagara LaSalle.
The transaction is being led by Mike Hogan, Ned Valentine, John Arendale, Dave Kennedy and Doug Kinard from the firm’s Richmond office along with Jeremy Eberlein from the firm’s Cleveland office.
Niagara LaSalle is North America’s largest independent manufacturer of high quality engineered cold finished steel bars, serving a broad range of customers in diverse end markets including automotive, energy, agriculture, and industrial equipment. As a result of the merger, Niagara LaSalle will become a significant part of Optima Specialty Steel along with Optima Specialty Steel’s wholly-owned subsidiary Michigan Seamless Tube, LLC, a leading independent manufacturer of value-added precision-tolerance, cold drawn seamless tubes.
“Niagara LaSalle is the market leader in the cold finished steel bar industry with a track record of product innovation and unmatched customer service, which attracted strong interest from leading domestic and international steel processors. Its merger with Optima Specialty Steel will further strengthen its current market position and enhance its opportunity to continue to grow. The transaction exemplifies the opportunities that are available with the right strategic partner for a leader in a targeted market,” says Mike Hogan (pictured), a managing director at Harris Williams & Co.
“We have known the Kohlberg team for many years, and are delighted to have represented them on this transaction. We are pleased to have found a partner for Niagara LaSalle that shares its vision for the future, and we look forward to watching as the company expands going forward,” says John Arendale, a director at Harris Williams & Co.
