BGL Announces the Sale of Grossman Iron and Steel Company
CHICAGO, Oct. 12, 2021 /PRNewswire/ -- Brown Gibbons Lang & Company (BGL) is pleased to announce the sale of Grossman Iron and Steel Company (Grossman) to The David J. Joseph Company (DJJ), an operating subsidiary of Nucor Corporation (Nucor). BGL's Metals & Metals Processing team served as the exclusive financial advisor to Grossman in the process. The specific terms of the transaction were not disclosed. The transaction highlights the deep experience of the BGL team with businesses operating in ferrous and non-ferrous scrap metal processing.
Headquartered in St. Louis, Missouri, Grossman is the largest full-service scrap metal processor serving the greater St. Louis metropolitan area and one of the leading scrap metal processors in the Midwestern United States. Grossman operates strategically located processing facilities adjacent to the Mississippi River, offering both river and direct rail access to its blue-chip consumer base. The company is well-positioned to continue benefiting from its tenured consumer and supplier relationships, access to premium, cost-effective materials, and premier reputation, built from 101 years of providing high-quality service.
DJJ is an operating subsidiary of Nucor (NYSE: NUE), a publicly listed company and one of North America's most diversified steel and steel products companies. Together with its subsidiaries, DJJ operates six regional companies across the U.S. with the capacity to sort and recycle over five million tons of ferrous and nonferrous scrap annually.
About Brown Gibbons Lang & Company
Brown Gibbons Lang & Company (BGL) is a leading independent investment bank and financial advisory firm focused on the global middle market. The firm advises private and public corporations and private equity groups on mergers and acquisitions, capital markets, financial restructurings, valuations and opinions, and other strategic matters. BGL has investment banking offices in Chicago, Cleveland, and Philadelphia, and real estate offices in Chicago, Cleveland, and San Antonio. The firm is also a founding member of Global M&A Partners, enabling BGL to service clients in more than 30 countries around the world. Securities transactions are conducted through Brown, Gibbons, Lang & Company Securities, Inc., an affiliate of Brown Gibbons Lang & Company LLC and a registered broker-dealer and member of FINRA and SIPC. For more information, please visit www.bglco.com.
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