Stout is pleased to announce that it served as a financial advisor to Cleveland Metal Exchange (“CME”) in connection with its sale to Mill Steel Co., one of the nation’s largest distributors of flat-rolled carbon steel.

Cleveland Metal Exchange, founded in 1994 and located in Pepper Pike, OH, is an ISO-certified supplier of stainless steel procurement, third-party processing, and logistics services. CME carries over 20 million pounds of stainless steel and aluminum and has grown to over 70 million pounds of aluminum and stainless steel sold each year.

“With Mill Steel’s financial strength, supplier relationships, and reputation, we view this merger as transformational, positioning Mill Steel to become one of the nation’s largest full-line service centers,” said Randy Horvat, CME CEO, and Jeff Haas, CME President.

Mill Steel plans to leverage its vast processing footprint and dedicated carrier network along with CME’s extensive supply chain to bring competitively priced aluminum and stainless products to market.

“It was a pleasure working with the CME team on this transaction, which demonstrates continued strength in the metals supply chain management services sector,” said Managing Director Michael Jenny, who leads Stout’s Metals and Specialty Manufacturing practice.