Russel Metals to use bank facility to fund City Pipe acquisition

By Marisa Wong

Los Angeles, Aug. 19 – Russel Metals Inc. said it will use its bank facility, along with about $100 million in cash, to help finance its acquisition of City Pipe & Supply Corp.

The transaction, valued at $160 million, is expected to close in the fourth quarter of 2019.

Russel is a Toronto-based metals distribution company. City Pipe is an Odessa, Tex.-based pipe supplier.

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