Ryerson Holding and Olympic Steel have entered into a definitive merger agreement to form the second-largest metals service center in North America, with combined revenue of approximately $6.5 billion. The transaction, expected to close in the first quarter of 2026, remains subject to regulatory clearance and shareholder approval.
Under the terms of the deal, Olympic Steel shareholders will receive 1.7105 Ryerson shares for each Olympic share, giving Olympic investors about 37% of the combined company. The merger will unite two of the industry’s most established distributors of carbon, stainless, and aluminum products, serving manufacturing and industrial clients across North America.
Executives from both companies expect the combination to drive substantial operational and financial efficiencies. The merger is projected to deliver $120 million in annual cost synergies by the end of its second year while being immediately accretive to earnings.
The new entity aims to leverage its expanded footprint, product range, and processing capabilities to enhance customer service, accelerate growth in key end markets, and strengthen competitiveness in an increasingly consolidated metals sector.
KEY QUOTES:
“This merger represents an immensely attractive opportunity that combines our complementary products, services, and footprint to enhance market presence and deliver strong value to stakeholders.”
Eddie Lehner, President and Chief Executive Officer, Ryerson
“We are thrilled to merge with Ryerson and for all of the opportunities that becoming a $6.5 billion company will provide to our stakeholders.”
Rick Marabito, Chief Executive Officer, Olympic Steel
“Ryerson is a well-respected company with more than 180 years of history and a values-based culture much like our own. We fully endorse this next chapter for Olympic Steel and our stakeholders.”
Michael Siegal, Executive Chairman, Olympic Steel
