Lapham-Hickey Steel Expands with Acquisition of Alkar Steel and Processing

Acquisition Expands Slitting and Steel Processing Capabilities

Lapham-Hickey Steel has made a significant move to bolster its slitting and steel processing operations by acquiring Alkar Steel and Processing (ASAP), a Michigan-based leader in the cold-rolled, galvanized, high-carbon, and hot-rolled pickled and oiled steel products. ASAP operates a 125,000-square-foot facility located in Warren, Michigan, providing extensive slitting capabilities. The acquisition is expected to strengthen Lapham-Hickey’s service offerings in Michigan and provide enhanced capabilities to serve customers across the U.S.

Maintaining Legacy with Seamless Integration

Founded in 1975, Alkar Steel has been a staple in the steel processing industry, known for its commitment to high-quality products and customer service. As part of the acquisition, Alkar Steel will continue to operate as a division of Lapham-Hickey Steel, with the existing sales and operations teams remaining in place to ensure continuity for customers. Patrick Fayad, the president of Alkar Steel, will maintain a minority stake in the new division, and he emphasized the strong alignment between the cultures of Lapham-Hickey and Alkar.

Strategic Growth and Expansion Plans

Lapham-Hickey Steel, a fourth-generation family-owned business founded in 1926, operates as a full-line carbon service center. With 13 locations across the Midwest, East Coast, Southeast U.S., and Mexico, the acquisition of Alkar Steel enables Lapham-Hickey to further expand its reach and capabilities. The deal comes as part of Lapham-Hickey’s strategy to strengthen its presence in the steel market, leveraging Alkar’s established reputation and high-quality production capacity. Fayad expressed pride in what Alkar has achieved over the past 50 years and saw the acquisition as an opportunity to better serve customers across various regions in the U.S.