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Union Partners I LLC Has Closed On Its Asset Purchase Agreement with Lee Steel Corporation

September 18, 2015

OAK BROOK, Ill.--(BUSINESS WIRE)--Union Partners I LLC (“Union”) through its assignee Lee Steel Holdings LLC (d/b/a, “Lee Steel”) announces it has closed on its Asset Purchase Agreement with Lee Steel Corporation which included Lee Steel Corporation’s Wyoming, MI operations (a/k/a, Grand Rapids facility), certain working capital assets and all of its corporate operations effective September 18, 2015. “This is a new day for Lee Steel’s employees, customers and vendors and we look forward to getting back to business,” said Chris Hutter of Union.

Lee Steel has now officially joined an affiliated group of steel service centers, which includes Lexington Steel Corporation, LexWest, LLC, Lex South, LLC, Mapes & Sprowl Steel LLC, Chicago Steel Holdings LLC, JIT Steel Services LLC, Opus Metals LLC, and other strategic alliances in the metals and logistics industries.

“We undoubtedly will be able to earn our customers business back and provide them expanded capabilities under our national platform. The new ownership and management team of Lee Steel commits its full energy and resources to becoming best in class once again,” said Paul Douglass of Union.

Lee Steel will remain a top-tier service center focused on a continuation and expansion of a 60+ year history of unmatched quality and service to its customers.

ABOUT UNION PARTNERS I LLC

Union Partners I LLC is a hands-on full service investment holding company focused on acquiring portfolio companies for long-term ownership which are focused on metals and logistics industries. Union has affiliated and portfolio companies located throughout the United States with operations in California, Illinois, Indiana, Tennessee, Texas and now we welcome Michigan. Founded by families with multi-generational experience in steel, real estate and logistics, Union is able to provide the strategic vision, capital and resources to ensure that all of its stakeholders are positioned for success.

CONTACTS

Union Partners I LLC
Paul Douglass
630.617.9131
or
Union Partners I LLC
Chris Hutter
630.617.9133

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