BGL Announces Bull Moose Tube Company has Reached a Definitive Agreement to Acquire Hanna Steel Corporation

Brown Gibbons Lang & Company (BGL), a leading independent investment bank and financial advisory firm, is pleased to announce that Bull Moose Tube Company (Bull Moose), a leading manufacturer of steel pipe & tubing products, has reached a definitive agreement to acquire Hanna Steel Corporation, a producer of structural and mechanical steel tubing. The transaction is expected to close in early Q3 2026, subject to customary closing conditions. Following the completion of the transaction, Hanna Steel will operate as a division of Bull Moose. BGL's Metals & Advanced Metals Manufacturing investment banking team served as the exclusive financial advisor to Bull Moose in the transaction.

Founded in 1962, Bull Moose is part of the Caparo family of companies. The company operates seven manufacturing facilities across the United States and offers one of the largest ranges of welded steel tubing in North America. Bull Moose products serve a wide variety of applications, including commercial construction, infrastructure, fire protection, heavy equipment, transportation, and engineered products.

Transaction Details

The combination brings together two organizations with a shared commitment to safety, customer service, quality and growth - creating a stronger, more aligned platform than either company could achieve as separate entities. With aligned values and complementary cultures, Bull Moose and Hanna will operate as one team, accelerating the sharing of best practices and delivering best in class service across our customers, employees, and partners.

"The acquisition of Hanna Steel is a strong strategic fit for Bull Moose as we continue to expand our capabilities and enhance value for our customers," said John Krupinski, Chief Executive Officer of Bull Moose Tube Company. "Hanna adds complementary assets, experienced teams, a respected reputation and culture, along with a product portfolio that supports our long-term growth strategy. The BGL team demonstrated their experience and knowledge in the steel sector throughout the entire process, and we are very pleased with the outcome."

Chairman of Bull Moose Tube Company, the Hon. Ambar Paul, said, "We continue to assess and pursue strategic opportunities that strengthen Bull Moose Tube's position as a best-in-class steel tube producer. As our third major investment in recent years, Hanna Steel builds on a clear pattern of strategic expansion - adding depth to our manufacturing capabilities and reinforcing our commitment to long-term, sustainable growth."

Vice-Chair of Hanna Steel, Jill Cunningham, said, "The acquisition of Hanna Steel by Bull Moose Tube marks an exciting new chapter for our customers, employees and suppliers. Joining forces with Bull Moose Tube allows us to pair our legendary commitment to consistency and customer service with Bull Moose's impressive scale and quality. We are proud of the legacy we've built and look forward to the future of Hanna under Bull Moose's stewardship."

About BGL's Metals & Advanced Metals Manufacturing Investment Banking Team

BGL's Metals & Advanced Metals Manufacturing team has deep sector knowledge and extensive Metals M&A transaction experience within major subsectors of the broader metals industry. Coverage includes mills and foundries, metals recycling, advanced metals manufacturing, and metal service centers.