French firm buys BMG Metals
Descours and Cabaud Inc., a French industrial and steel distributor, has purchased a controlling interest in BMG Metals Inc., a Richmond, Va.-based steel service center.
Financial terms of the transaction were not disclosed.
Descours and Cabaud currently has more than 560 locations throughout Europe and North America, including Dillon Supply Company, an industrial and steel distributor based in Raleigh, N.C.
BMG will continue to operate autonomously as it has since the company’s inception in 1963. Bery Gay, BMG chief operating officer, and Tom Gay, BMG president, will manage the day-to-day operations of the company, while Dean Wagoner, vice president of Descours and Cabaud Inc., will take over responsibility of overseeing the U.S. holdings.
“In the coming months we will examine the synergies between the two businesses and how best to utilize them to make both better. There are countless possibilities on how we can work alongside one another to become more dominant in our respective markets,” Wagoner said.
INDUSTRIAL SUPPLY MAGAZINE
The May/June issue of Industrial Supply magazine features an in-depth cover story about GHX Industrial. Plus, we're featuring articles by contributing writers Dr. Bharani Nagarathnam and Frank Hurtte, as well as interviews with numerous product and distribution industry experts.
