CLEVELAND – Olympic Steel Inc. has acquired the assets of McCullough Industries, Inc. Terms of the the all-cash purchase, which closed on Jan. 2, 2019, were not disclosed. This represents Olympic Steel’s second acquisition in the past nine months.
McCullough Industries, located in Kenton, Ohio, manufactures and sells branded self-dumping hoppers used in a variety of industrial applications. McCullough’s products are primarily sold through industrial distributors and catalogues.
“The McCullough acquisition marks our entry into manufacturing and marketing metal-intensive branded products, which is a key element to our long-term growth strategy,” said Richard Marabito, Olympic Steel CEO.
“Vertical integration into manufacturing metal products allows us to utilize our existing assets and expertise to more consistently capture higher profit from the point of raw material purchase through the ultimate sale to the end customer.”
McCullough and Wright branded containers are constructed from carbon and stainless steel, in a variety of configurations. Easily transported, they are used for storing, handling, recycling and transporting materials used in construction, food service, and landscaping applications.
The self-dumping hoppers can also be fitted with feeding devices and integrated into manufacturing processes and assembly lines for scrap and liquid waste collection.
The products will continue to be manufactured in Kenton, Ohio by the existing workforce.
In conjunction with the acquisition, Olympic Steel veteran Joseph Casey has been named general manager – McCullough Industries. Casey began his career with Olympic Steel in 2012 at the Integrity Stainless Division, and has progressed through several positions with increasing responsibility including inventory control supervisor, service/scheduling manager and plant/production manager. Casey is a certified Lean Six Sigma Black Belt, and in 2017, he was promoted to his most recent position of purchasing manager.