Citizens Capital Markets served as financial advisor to Liberty Steel Products in its divestiture of Welded Tubes to Lock Joint Tube, a subsidiary of Steel Warehouse Company.
Welded Tubes, founded in 1958, is a producer of electric resistance welded carbon and stainless steel tubing. WTI’s president, Joe Frandanisa, the management team and the workforce will remain in place at WTI’s factory in Orwell, OH.
“The Citizens M&A Advisory team gave us excellent service. Their market knowledge, persistence and attention to detail served us well throughout the transaction.” Jim Grasso, president and CEO of Liberty Steel Products, said.
Citizens M&A Advisory specializes in middle-market mergers and acquisitions as well as later-stage financing transactions.