(Photo: wilkinsonsteel.com)

VANCOUVER Wilkinson Steel has announced it reached an agreement to sell its assets to Samuel, Son & Co.

The transaction is expected to close late next month following regulatory approval.

Wilkinson is a steel and metal service centre that supply the resource based economies in the countrys western provinces. They deal with the forestry, mining, and shipbuilding industries in British Columbia, oil, gas, and mining in Alberta, and agriculture, mining, and oil and gas in Saskatchewan.

Wilkinson is currently owned by the international private equity group Nova Capital. Nova Capital acquired the business in 2011 as part of a portfolio of five industrial businesses previously owned by Amalgamated metal Corporation Plc.

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

We are extremely pleased to be acquiring a company with an excellent product offering that is mainly complimentary to Samuels product line, said Wayne K. Bassett, President and CEO of Samuel commented on the deal saying.

The acquisition also adds bars and structurals to Samuels current product offering.  We are also pleased to be adding a strong team of employees to our Western Canadian Service Center network.

Samuel is the fifth largest processor and distributor of carbon steel, stainless steel, and aluminum in North America and has over 100 steel service centres and manufacturing facilities.