Mutares SE & Co. KGaA has acquired Greer Steel Company to enhance its Engineering & Technology segment and strengthen its presence in the North American steel market.

Information on the Target

Mutares SE & Co. KGaA has successfully acquired Greer Steel Company, a leading manufacturer of cold-rolled steel strips located in Dover, Ohio, USA. The acquisition represents a significant step in enhancing Mutares's Engineering & Technology segment and expanding its presence in the North American market. Greer Steel specializes in cold-rolled steel strips and offers a diverse range of products, including high-carbon, low-carbon, high-strength low-alloy steels, and alloy steels.

Operating from an advanced manufacturing facility in Dover, Greer Steel employs cutting-edge production techniques, such as cold rolling, hydrogen annealing, pickling, slitting, shearing, flat wire rolling, traverse winding, edge profiling, and finishing. In 2024, the company delivered over 18,000 tons of products, with 96% of its revenue generated in the USA and 4% in Canada, and it employs approximately 110 staff members. The company serves a diverse customer base across the automotive, service center, hardware, hand tool, and stamping industries, with the automotive sector accounting for 60% of its revenue in 2024.

Industry Overview in the Target’s Specific Country

The North American steel processing market is characterized by its resilience and adaptability, playing a critical role in various sectors, including automotive, construction, and manufacturing. The dem