Lapham-Hickey Steel Purchases Alkar Steel and Processing

Lapham-Hickey Steel Expands Operations with Acquisition of Alkar Steel and Processing

Bedford Park, Ill. – In a strategic move to enhance its market position, Lapham-Hickey Steel, a leading family-owned carbon service center, has officially announced the acquisition of Alkar Steel and Processing (ASAP), based in Warren, Michigan. This decision marks a significant expansion for Lapham-Hickey Steel, which has been a cornerstone in the industry for four generations.

The 125,000-square-foot facility operated by ASAP specializes in a wide range of services, including slitting capabilities, as well as the processing and distribution of cold-rolled, galvanized, high-carbon, and hot-rolled pickled and oiled steel products. Following the acquisition, the Warren facility will function as a distinct division under the Lapham-Hickey Steel umbrella, maintaining its current sales and operational team to ensure a seamless transition and continuity of service. Patrick Fayad, the current president of Alkar Steel, will continue to lead the division and holds a minority stake in the business, providing stability and expertise to the new partnership.

“The Hickey family has had a long-standing relationship with the Fayad family for several decades. Their family-owned culture aligns perfectly with Lapham-Hickey’s vision and values. We believe this collaboration will strengthen our capabilities and service offerings,” stated Brian Hickey, President of Lapham-Hickey Steel.

Patrick Fayad echoed this sentiment, expressing optimism about the acquisition’s potential benefits. “This acquisition will open doors for ASAP to better support our customers locally and those with plants across multiple regions in the country,” he noted. This statement underscores the strategic advantages of the acquisition, suggesting increased operational efficiencies and improved customer service outreach across diverse markets.

Lapham-Hickey Steel operates across 13 locations spanning the Midwest, East Coast, Southeast, and Mexico. The company is well-regarded as a suppliers of slit coil, sheets, plates, bars, tubing, and fabricated products, catering to a wide array of industrial needs. With the integration of ASAP, the company not only broadens its product offerings but also strengthens its market presence, facilitating enhanced logistics and distribution capabilities that benefit a growing customer base.

In an industry that is rapidly evolving, this acquisition reflects Lapham-Hickey Steel’s commitment to growth and innovation, positioning the company to meet increasing demands while continuing to uphold its tradition of quality and customer satisfaction.