Mogadore, OH, July 28, 2026 - BICO Steel ("BICO"), a portfolio company of Validor Capital, is pleased to announce it has acquired Diamond Metals Distribution ("Diamond Metals"), significantly expanding BICO's specialty metals offering and precision processing capabilities.

Diamond Metals is a leading value-added distributor and processor of tool steel, powdered metals, and alloy rounds. The Company has built a strong reputation for providing customers with high-quality materials and precision services, including six-side pre-squared finishing and machining, supported by a highly skilled workforce and responsive customer service.

John Frazier, CEO of BICO, stated, "We are thrilled to welcome the Diamond Metals team to the BICO family. This acquisition broadens our specialty metals offering and adds differentiated finishing and precision machining capabilities that complement BICO's existing platform. Diamond Metals' technical expertise, strong customer relationships, and reputation for quality and service further strengthen our ability to serve customers across a wide range of demanding industrial applications."

Terms of the transaction were not disclosed.

About BICO Steel

Founded in 1896, BICO Steel is a highly-specialized processor of heavy carbon steel plate and forged specialty alloy steel used primarily in the production of quality-critical, high-performance products used in the molding, process equipment, tool and die, and capital equipment industries. BICO's customers serve a diverse group of end markets including aerospace, automotive, canning, paper conversion, consumer goods, building products, and oil and gas, amongst others. For more information, please visit https://www.bicosteel.com.

About Validor Capital

Validor Capital is a private investment firm that provides liquidity to family and founder owned industrial, manufacturing, and service businesses in the lower middle market. We seek situations where we can partner with management teams to leverage our combined expertise and deep industry relationships to create significant value. For more information, please visit https://www.validorcap.com.