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

 

Lapham-Hickey Steel acquired Alkar Steel and Processing (ASAP). This move strengthens slitting and steel processing operations. ASAP is a Michigan-based leader. They specialize in cold-rolled, galvanized, and high-carbon steel. Their facility spans 125,000 square feet. It provides extensive slitting capabilities. This acquisition enhances Lapham-Hickey’s service offerings. It also improves customer service across the U.S.

Seamless Integration Maintains Alkar Steel’s Legacy

Alkar Steel was founded in 1975. They are known for high-quality products. They also provide excellent customer service. Alkar Steel will operate as a Lapham-Hickey Steel division. Existing sales and operations teams will remain. This ensures customer continuity. Patrick Fayad will maintain a minority stake. He emphasized the strong cultural alignment. Lapham-Hickey and Alkar share similar values.

Strategic Growth Drives Expansion Plans

Lapham-Hickey Steel is a fourth-generation family business. They were founded in 1926. They operate as a full-line carbon service center. They have 13 locations across the U.S. and Mexico. The Alkar Steel acquisition expands their reach. It also increases their capabilities. This deal aligns with Lapham-Hickey’s growth strategy. They strengthen their steel market presence. They leverage Alkar’s high-quality production. Fayad is proud of Alkar’s 50-year achievements. The acquisition will better serve customers.