Ryerson, Olympic Steel to Merge

Industrial-metal-alloy value-added processor and distributor Ryerson Holding Corp. and metals service center Olympic Steel, Inc.  announced today that they have entered into a definitive agreement to merge. The merger, expected to close in 2026’s first quarter, will enhance the combined company's presence as the second-largest North American metals service center and represents a strategic match as it will bring Olympic Steel's complementary footprint, capabilities and product offerings into Ryerson's intelligently interconnected network of value-added service centers, offer officials from both companies. The transaction is expected to generate approximately $120 million in annual synergies by the end of year two via procurement scale, efficiency gains, commercial enhancement and network optimization.

As part of the transaction, Michael D. Siegal, executive chair of Olympic Steel's board of directors, will be appointed board chair of the combined company. Eddie Lehner, Ryerson president and CEO, will serve as CEO of the combined company, with Richard T. Marabito, Olympic Steel CEO, serving as president and COO.

"The combination of our organizations will further scale the digital investments that Ryerson has made to bring Olympic Steel's capabilities and formidable expertise into a larger network and provide our customers with greater network density, faster lead times and a wider array of custom solutions from pick-pack-and-ship to finished parts,” says Lehner. “I could not be more optimistic and energized about the merging of our two companies with a combined 255 yr. of industrial-metals-service-center experience.”

Adds Siegal: "This is a significant milestone for the business my father and uncle started more than 70 yr. ago. We went from private to public in 1994, and now we enthusiastically take this next step to accelerate Olympic Steel's continued growth. Ryerson is a well-respected company with more than 180 yr. of history and a values-based culture much like our own.”

See also: Ryerson, Inc., Olympic Steel, Inc., Olympic Steel

Technologies: Materials

Subscribe to the Newsletter

Start receiving newsletters.