ATLANTA (September 15, 2010) — Smith, Gambrell & Russell advised Gerdau Ameristeel in its acquisition of TAMCO for $165 million in cash from Ameron International, Tokyo Steel and Mitsui & Co (U.S.A.). The transaction, announced today, is expected to close fourth quarter of 2010.
Jay Schwartz was lead transaction counsel for Smith, Gambrell & Russell. Other SGR team members include: Julie Sebastian, Corporate/M&A; David Santi, Tax; Andrew Fawbush and Lisa Carrasco, Employee Benefits; Matthew Clarke, Labor and Employment; Phillip Hoover, Environmental; and Thomas Hong, Antitrust.
TAMCO is a mini-mill steel producer of reinforcing steel bar based in Rancho Cucamonga, California. It is the only California-based steel producer of long products and serves markets primarily in California, Arizona and Nevada. The acquisition expands Gerdau’s North American network of mini-mills into the Western U.S.
Gerdau Ameristeel is the second largest mini-mill steel producer in North America, with annual manufacturing capacity of approximately 10 million metric tons of mill finished steel products. Through its vertically integrated network of mini-mills, scrap recycling facilities and downstream operations, Gerdau Ameristeel serves customers throughout the United States and Canada. The Company’s products are generally sold to steel service centers, steel fabricators, or directly to original equipment manufacturers for use in a variety of industries, including non-residential, infrastructure, commercial, industrial and residential construction, metal building, manufacturing, automotive, mining, cellular and electrical transmission and equipment manufacturing. Gerdau Ameristeel is a wholly owned subsidiary of Gerdau S.A.