“Through the acquisition of Kloeckner & Co, we will enhance our offerings in high-value metals processing and create meaningful value for our shareholders, deeper relationships with our customers and suppliers, and growth opportunities for our employees,” said Geoff Gilmore, president and chief executive officer of Worthington Steel. 

Kloeckner & Co. has about 110 locations across North America and Europe. Products offered include carbon flat-rolled steel, electrical steel, aluminum, stainless steel and long products. It has been transitioning to high value-added processing and manufacturing through mergers and acquisitions, and growth initiatives over the last few years, the company said. 

The companies said they expect the deal to close in the second half of 2026. Once the deal is complete, Worthington Steel estimates it will become the second-largest steel service center company in North America with a combined revenue of US$9.5 billion.