Stemcor sells German service center

UK trading and distribution company, Stemcor, has continued to offload assets with the sale of OKS Otto Knauf GmbH, a steel service center based in Iserlohn, Germany.

OKS processes around 250,000 mt/year of galvanized, hot and cold rolled and stainless steel strip products, but was no longer seen as a part of Stemcor’s core business. The service center has been acquired by Fidelium Partners, a German investment fund, which said it plans to expand the business.

Rafal Grabarkiewicz, managing partner at Fidelium, said, “We want to give OKS the undivided attention it deserves, and will support the existing management team on its way to becoming an independent mid-market.”

Friedrich-Walter Düllmann, CEO of OKS, said, “I am convinced that Fidelium is the right partner to support OKS in implementing its growth strategy and we can now concentrate on expanding our service offering, the utilization of our facilities while strengthening our position as a regional leader in the steel services business, the entire management team and I look forward to leading the company into a successful, independent future.”

Peter Brennan, PLATTS