Private-equity firm Woodside Capital has purchased the assets of Hamilton Specialty Bar Corp. (HSB). The acquisition was led by Woodside Capital, Pinnacle Steel and Sankaty Advisors. The HSB facility was shut down in May by its former owner, Delaware Street Capital. The new investors plan to start welcoming back workers to the facility as soon as possible and to start producing product later this fall.
Founded in 1919, HSB produces specialty bar quality steel for a diverse set of Canadian and U.S. customers in the automotive, agricultural and railway markets. The mini-mill facility is located in one of the largest SBQ markets in North America. Pinnacle Steel – with operations in Kentucky, Alabama and Texas – specializes in buying and reviving distressed steel companies.