InterOcean Advisors is pleased to announce the successful sale of certain assets of the Tool Steel Division of Steel Warehouse Company, LLC to Cincinnati Tool Steel Company Inc., a value-added distributor of tool steel, powder metal and alloys based in Rockford, Illinois. InterOcean served as the exclusive financial advisor to Steel Warehouse Company, LLC.
The Tool Steel Division of Steel Warehouse, headquartered in South Bend, Indiana, operated as a master distributor of multiple tool steel products. Its processing capabilities included sawing, milling and grinding.
Steel Warehouse is one of the largest family-owned industrial concerns in the U.S. and Mexico focused on the metal service center sector. The company offers a broad range of processing services to provide production-ready steel for metal stampers, fabricators and manufacturers. Services include leveling, slitting, temper/cut-to-length, blanking/shearing, pickling and cold reduction. Steel Warehouse affiliates produce mechanical and structural grade steel tubing and fabricate medium to heavy gauge components for original equipment manufacturers.