Proler Steel International, based in Houston, has signed a letter of intent to purchase the assets of Walco Recycling LLC, also based in Houston. According to Chris Proler, president of Proler Steel, the acquisition is part of a strategy to grow the business by increasing the company’s retail business.
Proler, whose family has generations of experience in the scrap metal business, left Sims Metal Management in 2008 to form Proler Steel International. Initially the company was focused on brokerage, though Proler says he wanted to strengthen the company by adding processing capabilities. This will be achieved with the purchase of Walco Recycling, he says.
Walco specializes in rail car dismantling and ferrous processing. Following the acquisition, Proler says he will work to grow the company’s nonferrous business. One way to do that, he says, is by aggressively targeting the retail business.
The deal is expected to be completed by the middle of January 2012.
Brian Wallace, president of Walco Recycling, says the company hopes to develop a personal touch with its retail clients, which will give the company an advantage over many of the large, multinational firms in the area.
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