Universal Stainless & Alloy Products, Inc. announced a definitive agreement to be acquired by Aperam in an all-cash transaction. Aperam will acquire all outstanding Universal shares at USD 45.00 per share, a 19pct premium over Universal’s three-month average stock price as of October 16, 2024, and 10.6x trailing 12-month Adjusted EBITDA as of June 30, 2024.
Aperam, a Luxembourg-based global leader in stainless, electrical, and specialty steel, will gain its first U.S. manufacturing presence through the acquisition, expanding its footprint in high-growth sectors like aerospace and industrial applications.
The transaction, unanimously approved by both companies’ boards, is expected to close in Q1 2025, pending customary approvals. Upon completion, Universal will become a wholly owned subsidiary of Aperam, delisting from Nasdaq, and continuing operations as Universal Stainless, headquartered in Bridgeville, PA.
Founded in 1994, Universal Stainless manufactures specialty steels, while Aperam operates six production facilities across Brazil, Belgium, and France with a capacity of 2.5 mln tons of flat stainless and electrical steel, along with a robust distribution network and innovative biomass-based steel production.
