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Varnum Represents Steel Company in Expansion into Stainless, Aluminum Markets

January 31, 2023

Mill Steel Co., one of the nation’s largest distributors of flat-rolled carbon steel, recently announced its expansion into the flat-rolled stainless steel and aluminum metal markets with the acquisition of Cleveland Metal Exchange (CME) and Chicago Stainless Metal Exchange. Varnum represented Mill Steel in the transaction.

A full line of stainless steel and aluminum products is now available through the Mill Steel Stainless and Aluminum division. In addition, the entire CME team, with over 200 years of combined experience in the sourcing and processing of stainless and aluminum products, is joining Mill Steel’s seasoned team of carbon flat-rolled specialists. The deal is the largest acquisition to date for Mill Steel Co.

The Varnum team worked closely with Mill Steel’s executive team to facilitate the negotiation, conduct legal due diligence, structure the transaction and negotiate the Asset Purchase Agreement. The Varnum team was led by Pete Roth and included Matt Maltz, Tim Gordon and Ethan Beswick.

“The Varnum team provided sound legal strategy and expert counsel throughout the entire process,” said Mill Steel Chief Financial Officer Marc Rabitoy. “Pete Roth and Matt Maltz often went above and beyond, working after hours to help close the deal. We appreciated their responsiveness and willingness to jump in whenever needed.”

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