GLGH Steel, LLC has agreed to acquire Artrom Steel Tubes S.A., a Romanian producer of seamless steel tubes based in Slatina and Resita. The transaction is pending regulatory approval from Romanian authorities.
GLGH Steel is a subsidiary of Great Lakes Global Holdings (GLGH), an investment company headquartered in Chicago, Illinois. The Share Purchase Agreement was finalized in November between GLGH Steel and Artrom’s former Serbian owners. GLGH Steel is now working to secure support from the Romanian government, aiming to ensure Artrom’s future growth.
Adam Hitchcock, Founder and Managing Partner of GLGH, expressed enthusiasm for the acquisition: “Artrom Steel Tubes S.A. is a strong, modern industrial company with great potential. We are dedicated to fostering its growth and expanding into new markets across Europe, North America, and beyond.”
The acquisition secures over 2,000 jobs in Romania’s Olt and Caras-Severin counties and promises significant economic benefits through substantial investments. Future plans include expanding production, entering new markets, and maintaining leadership in the steel tube industry.
