On December 4, 2023, Samuel, Son & Co., Limited ("Samuel"), a leading metals distributor and industrial products manufacturer, announced that it had entered into an agreement to sell its Western Canada and US carbon plate Service Centre operations to Russel Metals Inc. for approximately $225 million, subject to closing working capital and other normal course adjustments. The transaction is subject to regulatory approval and other customary closing conditions. It is expected to close in Q1 or Q2 2024.

Western Canada Service Centre locations in Winnipeg, MB; Nisku, AB; Calgary, AB; Surrey, BC; and Langley, BC will be included in the transaction. US carbon plate branches in Neville Island, PA and Buffalo, NY will also be part of the transaction.

Founded in 1855, Samuel, is a family-owned integrated network of metal manufacturing, processing and distribution divisions. Samuel employees provide metals, industrial products and related value-added services from locations across North America.

Gowling WLG is counsel to Samuel with respect to this transaction with a team that includes Robert Hull, Joseph McDonald and Camille Beaudry (corporate/M&A); Ian Macdonald (competition); Kirsty Strong (real estate); Parna Sabet-Stephenson and Stefan Nasswetter (technology); Christopher Oates (privacy); and Michael Bussmann and Carl Hinzmann (tax); assisted by student-at-law Mikail Osman.