Samuel Enters Into an Agreement to Purchase the Assets of Wilkinson Steel and Metals Inc.

TORONTO, March 28, 2013 /CNW/ - Wayne Bassett, President and CEO of Samuel, Son & Co., Limited announced today that the Company has reached an agreement to purchase the assets of Wilkinson Steel and Metals Inc.  The transaction is expected to close in late April 2013 following regulatory approval.

Commenting on the acquisition, Mr. Bassett said "Wilkinson is a one hundred year old steel and metal service center business that is aligned to the natural resource based economies of the three Western provinces, dealing directly with the forestry, mining, and shipbuilding industries in British Columbia, oil, gas, and mining in Alberta, and agriculture, mining, and oil & gas in Saskatchewan. Wilkinson offers a full range of products, processing services and delivery capabilities to companies directly engaged in the natural resource industries. Samuel and Wilkinson maintain complimentary product lines with minimal customer and product overlap." Wilkinson also adds bars and structurals to Samuel's product offering.  Wilkinson is currently owned by the international private equity group Nova Capital Management Ltd.

Bill Hughes, President of Wilkinson added that "the acquisition by Samuel provides an excellent strategic and geographic fit that will best serve the interests of Wilkinson's existing customers, suppliers and employees, generating new opportunities and profitable growth."

Samuel, Son & Co., Limited is the 5th largest processor and distributor of carbon steel, stainless steel and aluminum in North America with over 100 strategically located steel service centers and manufacturing facilities.

SOURCE: Samuel Son & Co., Limited

For further information:

Chris Bourque
Corporate Vice-President,
Strategic Planning & Business Development
Samuel, Son & Co., Limited
Tel: (905) 279-5460

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Samuel Son & Co., Limited

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