Apollo Investment Management-backed Metals USA has acquired VR Laser Services in an add-on acquisition. VR Laser, a producer of carbon plate products, will expand Metals USA's products and services in heavy carbon steel, flat-rolled steel, and non-ferrous metals to more customers in the Northeast. Metals USA was acquired by Apollo in 2005 for $447 million and is currently registered for a $200 million IPO.
Since the beginning of 2008, private equity firms have invested in 12 companies similar to Metals USA, according to the PitchBook Platform. Three of the deals were actually exits through secondary acquisitions by other private equity investors. Dogwood Equity exited Expert Forge and Machine and Blue Point Capital Partners exited Jorgensen Forge and Columbus Steel Castings.