Union Partners I LLC said recently that it closed on an asset-purchase agreement on Friday with Lee Steel Corporation, which includes all assets of Lee's Wyoming, Michigan, facility and working capital assets of Lee's Romulus, Michigan facility.
“This is a new day for Lee Steel’s employees, customers and vendors, and we look forward to getting back to business,” Chris Hutter, a spokesman for Union Partners, said.
Lee Steel is now part of an affiliated group of steel service centers, including Lexington Steel Corporation; LexWest, LLC; Lex South, LLC; Mapes & Sprowl Steel, LLC; Chicago Steel Holdings, LLC; JIT Steel Services, LLC; and Opus Metals, LLC.
“We undoubtedly will be able to earn our customers' business back and provide them expanded capabilities under our national platform,” Paul Douglass, a spokesman for Union Partners, said. “The new ownership and management team of Lee Steel commits its full energy and resources to becoming best in class once again.”