Precision Marshall Steel acquired by Las Vegas-based Live Ventures
July 22, 2020
Pittsburgh Business Times
Las Vegas-based Live Ventures Inc. acquired Washington, PA-based Precision Marshall Steel for $31.5 million, according to a news release.
Tom Sedlak, formerly senior vice president of Precision Marshall Steel, will now serve as CEO of the company. He said the new owner intends to keep the local management team and staff intact and retain all employees.
The companies anticipate the deal will increase Live Ventures’ revenue by about $50 million annually, according to the release.
“We are delighted that Precision Marshall, a company that has thrived for more than 70 years, is joining the Live Ventures family,” Jon Isaac, Live Ventures president and CEO, said in a prepared statement. “Not only does Precision Marshall fit our strategy of acquiring profitable companies that have demonstrated a strong history of earnings power, they have the impressive history and talent we seek as well. Their comprehensive network of independent distributors impressively blankets the country."
Precision Marshall manufactures tool steel and alloy plate, precision-ground flat stock, drill rod and high-speed specialty materials used across a variety of industries.