DENVER, April 11 /PRNewswire/ -- Green Manning & Bunch, Ltd. (GMB), one of the nation's leading middle-market investment banks, announced today the sale of Denver-based Timberline Steel, Inc. to Birmingham-based O'Neal Steel, Inc. GMB served as Timberline Steel's exclusive financial advisor in the transaction.
Founded in 1958, Timberline Steel is a full line steel service center. The company's four facilities include the largest and most comprehensive processing facilities in the Rocky Mountain region. O'Neal Steel's acquisition of Timberline Steel expands the company's core product and processing capabilities and extends its geographical coverage.
"O'Neal made a strategic decision to increase its geographic footprint with high-quality acquisitions and Timberline's locations and value-added services made it an ideal candidate," said Warren Henson, co-president of GMB. "GMB's Basic Industries group was very pleased with the success of the transaction for all parties involved."
"GMB's team managed a smooth process from start to finish," commented Dan McCallin, CEO of Timberline Steel. "They had a clear and intense focus from initial due diligence through final discussions and negotiations to find the best buyer for Timberline."
About Green Manning & Bunch, Ltd. Green Manning & Bunch, Ltd. (http://www.gmbltd.com/) is an investment bank specializing in mergers and acquisitions, private placements of equity and debt, and strategic financial advisory services for middle market companies. GMB combines over $15 billion in transactional experience with industry specific expertise in Basic Industries, Business Services, Construction, Consumer/Retail, and Healthcare to deliver superior results for its clients. From its headquarters in Denver and its Phoenix office, GMB is centrally located to serve clients nationwide. GMB's corporate parent, CoBiz Inc. , is a $1.93 billion financial holding company that offers commercial banking services; trust and fiduciary services; property and casualty insurance brokerage and risk management consulting services; and employee and executive benefits consulting and wealth transfer services.
About O'Neal Steel, Inc. O'Neal Steel, Inc. (http://www.onealsteel.com/) is a full-line metals service center with a vast array of products, over 60 locations, and multi-stage processing capabilities. With over 80 years of history, O'Neal Steel is the United States' largest family-owned metals service center.
© 2006 PR Newswire
