Sagent Advisors, alongside Daiwa Securities, acted as exclusive financial advisors to KYOEI STEEL LTD. (TSX: 5440) (“Kyoei” or the “Company”) on its acquisition of BD Vinton LLC (“Vinton”), a steel minimill located in Vinton, TX from Bayou Steel Group, for approximately $52 million. Headquartered in Osaka, Japan, Kyoei engages in the production of reinforcing bars (“rebar”) and other steel products used in civil engineering and construction.
Kyoei has the leading market share in Japan for rebar and maintains a material recycling business that has been operating for over 20 years. The newly renamed Vinton Steel is a prominent maker of rebar for the industrial and construction industry and grinding media for the mining industry. Vinton’s products are primarily distributed in the southwestern United States and in northern Mexico.
The acquisition of Vinton will serve as the foundation for Kyoei’s steelmaking operations in the United States and help to expand the global network of the Company.