Lapham-Hickey Steel Strengthens Its Position in the Industry with Alkar Steel Acquisition
Lapham-Hickey Steel, a well-established, fourth-generation family-owned business, has announced its strategic acquisition of Alkar Steel and Processing, a prominent player based in Warren, Michigan. This acquisition marks a significant milestone in Lapham-Hickey's expansion efforts, both in terms of geographic reach and product offerings. The addition of ASAP’s 125,000 square-foot facility in Warren aligns with Lapham-Hickey’s mission to increase service capabilities and continue to provide high-quality steel products across the nation.
The Role of Alkar Steel and Processing in the Acquisition
Alkar Steel and Processing, or ASAP, specializes in slitting services and offers a diverse range of products, including cold-rolled, galvanized, high-carbon, and hot-rolled pickled and oiled steel. Their impressive processing capabilities and established reputation in the steel industry make them a valuable addition to Lapham-Hickey Steel’s extensive portfolio.
ASAP will continue to operate as a division within Lapham-Hickey Steel, maintaining its independent identity while benefiting from the expanded resources and support provided by the parent company. Patrick Fayad, the president of Alkar Steel, will remain at the helm of the ASAP division, ensuring continuity in leadership. Additionally, Fayad retains a minority stake in the division, further strengthening the relationship between the two companies.
Lapham-Hickey’s Expanding Presence Across the U.S. and Beyond
Lapham-Hickey Steel has built a strong network of locations throughout the Midwest, East Coast, Southeast, and Mexico, further solidifying its position as a leading supplier of steel products. The acquisition of ASAP will allow Lapham-Hickey to better serve customers across multiple regions, particularly those with facilities spread out across the United States. With 13 locations in key areas, Lapham-Hickey is strategically positioned to support industries requiring slit coil, sheet, plate, bars, tubing, and fabricated products.
Brian Hickey, president of Lapham-Hickey Steel, emphasized the long-standing relationship between the Hickey and Fayad families, noting that the family-owned culture of ASAP aligns perfectly with Lapham-Hickey’s values and vision. This strong partnership ensures that the transition and integration process will be seamless, allowing Lapham-Hickey to continue providing exceptional service to its customers.
Key Benefits of the Acquisition for Lapham-Hickey and Its Customers
The acquisition of ASAP brings several benefits to both Lapham-Hickey Steel and its customer base. One of the most significant advantages is the enhanced ability to meet customer needs for slitting capabilities and high-quality steel products. The expanded product range, including cold-rolled, galvanized, high-carbon, and hot-rolled pickled and oiled steel, complements Lapham-Hickey’s existing offerings.
Additionally, the acquisition will improve Lapham-Hickey's capacity to serve customers across various industries, particularly those with operations in multiple regions. The increased geographical footprint provides Lapham-Hickey with greater flexibility in responding to customer demand and allows for faster delivery times and improved customer support.
Patrick Fayad, president of Alkar Steel, noted that the acquisition would enable the company to better support its local customers as well as those with operations across the country. With this acquisition, Lapham-Hickey Steel is poised to continue its growth and strengthen its competitive edge in the steel industry.
Lapham-Hickey’s Vision for the Future
As Lapham-Hickey Steel moves forward with this acquisition, the company remains committed to its core values of quality, service, and long-term relationships with both customers and industry partners. By expanding its capabilities and product offerings, Lapham-Hickey Steel aims to continue its legacy of excellence while adapting to the changing needs of the steel market.
The acquisition of ASAP aligns with Lapham-Hickey’s strategy of controlled growth and innovation, ensuring the company remains at the forefront of the steel industry. With a strong foundation built on family values, strategic partnerships, and a focus on customer satisfaction, Lapham-Hickey is well-positioned to continue its leadership role in the steel sector for generations to come.
