Contran | Stephens

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Financial Advisor


$320 Million 12/03/2018 Building Products, Materials & Technology Complete
Private Companies
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Transaction Details

  • On December 3, 2018 GFG Alliance (“GFG”) announced that it has signed a binding agreement to purchase all of the outstanding stock in Keystone Consolidated Industries, Inc. (“Keystone” or “KCI”) from Contran Corporation (“Contran”).
  • Under the terms of the deal, GFG Alliance company Liberty Steel USA will acquire KCI, including all its subsidiaries, for $320 million in cash less certain assumed liabilities.
  • KCI, headquartered in Dallas, TX, is a vertically integrated value-added steel products manufacturer with manufacturing facilities in Illinois, New Mexico, Ohio and South Carolina.
  • The transaction is expected to close on or before December 31, 2018, subject to regulatory review.
  • Stephens Inc. served as exclusive financial advisor to Contran in the sale of Keystone.

About the company

Keystone Consolidated Industries, Inc.

Keystone is headquartered in Dallas, Texas and is composed of Keystone Steel & Wire, Engineered Wire Products, Strand Tech Manufacturing and Keystone Bar Products. In addition to steel billet and wire rod, the family of companies that make up KCI produce a diverse line of high-quality value-added steel products, including welded wire reinforcement mesh, agricultural woven wire fence, prestressed concrete strand, MBQ/SBQ bar and coiled rebar. All products are 100% made in the USA. As a result, KCI is poised to leverage its robust list of capabilities to support the manufacturing industry and America’s infrastructure with Buy America Compliant materials.

Contran Corporation

Contran, a holding company, operates through its wholly owned and majority owned subsidiaries, including Valhi, Inc., NL Industries, Inc., Kronos Worldwide, Inc. (“Kronos”) and CompX International Inc. (“CompX”). Kronos is a leading global producer and marketer of value-added titanium dioxide pigments (“TiO2”), which are used to impart whiteness, brightness and opacity to a wide variety of products, including paints, plastics, paper, fibers and ceramics. CompX is a leading manufacturer of security products used in the recreational transportation, postal, office and institutional furniture, cabinetry, tool storage, healthcare and a variety of other industries. CompX is also a leading manufacturer of stainless-steel exhaust systems, gauges, throttle controls and trim tabs for the recreational marine industry.

Liberty Steel USA

Liberty is part of the GFG Alliance; a global group of energy, mining, metals, engineering, logistics and financial services businesses, headquartered in London, with additional hubs in Dubai, Hong Kong, Singapore, Sydney, New York and a presence in around 30 countries worldwide. The Alliance, which has a global workforce of around 14,000 people and a turnover exceeding $15 billion, comprises integrated industrials and metals businesses under the "Liberty" banner; a resources, energy, transportation and infrastructure group under "SIMEC"; Wyelands; a banking and financial services arm as well as its property arm, JAHAMA Estates.

Source: Publicly available information.
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