Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

UPG Enterprises has completed the acquisition of Lex Holdings, which includes Lexington Steel and Douglass Logistics. 


Post-acquisition, Chicago-based Lexington Steel, which distributes flat-rolled steel products, will work closely with UPG’s Maksteel, which operates flat-rolled services in the US and Canada. The acquisition terms were not disclosed. 


The acquisition enables UPG to expand its regional reach to the central US states such as Wisconsin, Minnesota, Iowa, and Missouri and operate 10 facilities. The acquisition will also allow Lexington Steel to get access to products by other UPG companies. 


Lexington Steel was founded in 1968 and offers slitting, cutting, packaging, shipping, and warehousing services. Maksteel was founded in 1970 and has over 700,000nt of annual capacity. It was acquired by UPG in April 2018. Both have logistics divisions that allow them to be full supply chain partners. 


UPG operates a diverse set of companies in metals, manufacturing, and logistics in 25 locations in North America. The company’s brands include Contractors Steel, Maples & Sprowl Steel, Chicago Steel, Laminations Specialities, MetalEX, Maksteel, and Morton Rail. Steel processed and sold by UPG companies include flat, structural, tubular, and perforated metals. 

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