Stout announced that its client, Majestic Steel USA, Inc. (“Majestic”), has successfully raised $287.5 million in financing from a syndicate led by White Oak Commercial Finance, including Eclipse Business Capital and Stonebriar Commercial Finance.

Majestic is a Cleveland-based steel service center in the prime, flat-rolled steel sector. Over the last 40 years, Majestic has become a market leader in coated steel product with annual shipment volumes greater than 500,000 tons. Majestic made several acquisitions in 2020 and 2021 and developed a national service footprint with coast-to-coast coverage. In 2022, Majestic sought to refinance its current facility to better align with its collateral base, which includes a state-of-the-art “greenfield” facility in Arkansas.

The financing will provide additional flexibility to Majestic and fund strategic growth initiatives.

View the full news release.