Metals distributor and financial services firm launches platform for direct equity investing with first acquisition.
CHICAGO, Feb. 28, 2023 /PRNewswire/ — Flack Global Metals (FGM) announced today they closed on their acquisition of Fabral Metal and Wall Roof Systems from OmniMax International, Inc. Terms of the transaction were not disclosed.
Fabral is the premier supplier of metal building envelope solutions for multiple end markets including residential, commercial and post frame/agricultural. FGM is a hybrid organization combining an innovative domestic flat rolled metals distributor and supply chain manager with a financial services firm that focuses on delivering supply and pricing certainty within the metals space.
The Fabral acquisition is the first venture of FGM’s new direct equity investment platform which will invest directly in either full or partial ownership of OEMs where flat rolled products are the principal input to their manufacturing operations. FGM will invest additional capital in equipment, technology and people to enhance Fabral’s capabilities, including implementing the supply chain and risk management practices that have led to FGM’s growth to the 32nd largest steel distributor in the US in just over a decade.*
“Our investment platform is the next step for us. Our ability to control our own risk has allowed us the financial position to re-invest in our industry,” said Jeremy Flack, Flack Global Metals Founder and Chief Executive Officer. “We will continue to innovate and prove that enterprise value is created when risk is handled correctly. We believe everyone should be hedging – and those who do will beat those who don’t.”
*https://www.metalcenternews.com/editorial/current-issue/2022-mcn-top-50-service-centers/44817
ABOUT FLACK GLOBAL METALS
In 2010, Flack Global Metals (FGM) was founded with the mission to reinvent how metal is bought and sold. Twelve years later, the company has evolved into a hybrid organization combining an innovative domestic flat-rolled metals distributor and supply chain manager with a financial services firm supported by the most sophisticated ferrous trading desk in the industry known as Flack Metal Bank (FMB). Together, FGM and FMB deliver certainty and provide optionality to control commodity price risk in the volatile steel industry.
CONTACT:
Patty Rioux
ODEA Group, LLC
312.893.5163
[email protected]
SOURCE Flack Global Metals
