Cd'A Metals Has Been Acquired by Norfolk Iron & Metals
Monday, January 11th, 2021
Heritage Capital Group, Inc., an investment banking and financial advisory firm serving middle-market and emerging growth companies in the US and worldwide, is pleased to announce that its client, The Coeur d'Alenes Company (Cd'A Metals), has been acquired by Norfolk Iron & Metal (NIM).
Cd'A Metals, headquartered in Spokane, WA, is a full-line metal service center specializing in distributing a broad range of metal products. The company delivers a wide variety of materials, including various grades of stainless steel, aluminum, wear resistant steel, as well as ornamental iron. With three locations, Cd'A Metals is one of the largest metal distribution companies in the Inland Northwest.
NIM is a family-run, full-line steel service center and one of the nation's largest carbon steel distributors. Headquartered in Norfolk, NE, the company has 13 locations across the U.S., with warehouses stocked with plate and sheet steel, structural and mechanical tubing, merchant bar products, beams, and rebar. In 2018, NIM acquired Metalwest, a leading processor and distributor of non-ferrous and carbon flat rolled metal products. The acquisition of Cd’A Metals complements NIM's current market coverage and further expands its processing capabilities and product lines.
"The most important ingredient for selling your business is experience," Lawrence Coulson, President & CEO of Cd'A Metals apprised. "Heritage navigates the complicated path of selling a business while keeping the end goal and the route to it in focus."
Mr. Coulson went on to say, "Bert Tenenbaum and John Pregulman’s families each sold their metal distribution businesses and eventually became key players helping others do the same. I was astonished at the vast number of qualified buyers with whom they developed interest in my business. Doug Kravet understands the complexities of selling a business including having experienced nearly all the unexpected turns that can arise. Together, they closed the deal on my business, exceeding my expectations."
Heritage’s Savannah and Jacksonville teams served as the exclusive financial advisor to Cd'A Metals. The team included Bert Tenenbaum, John Pregulman, Doug Kravet, Don Wiggins, and Nick Hoover.
The terms of the transaction were not disclosed.