Mutares Strengthens North American Presence with Acquisition of U.S. Steel Processor Greer Steel

Mutares Strengthens North American Presence with Acquisition of U.S. Steel Processor Greer Steel

(IN BRIEF) Mutares SE & Co. KGaA has finalized the acquisition of Greer Steel Company, a U.S. specialist in cold rolled strip steel, as part of its strategy to expand the Engineering & Technology segment and strengthen its footprint in North America. Based in Dover, Ohio, Greer Steel serves automotive and industrial customers with a broad product range and advanced processing capabilities, shipping over 18,000 tons of steel in 2024. Mutares plans to use the acquisition as a growth platform, supporting operational improvements, system upgrades, and targeted investments while leveraging cross-selling opportunities in the automotive market.

(PRESS RELEASE) MUNICH, 2-Jan-2026 — /EuropaWire/ — Mutares SE & Co. KGaA has completed the acquisition of Greer Steel Company, a U.S.-based producer of cold rolled strip steel, reinforcing its Engineering & Technology segment and advancing its expansion strategy in North America. The transaction brings Greer Steel into the Mutares portfolio following its purchase from Greer Industries, Inc.

Headquartered in Dover, Ohio, Greer Steel specializes in cold rolled strip steel and supplies a wide spectrum of products, including high-carbon and low-carbon grades, high-strength low-alloy steel, and alloy steels. The company operates a technologically advanced production site equipped with processes such as cold rolling, hydrogen annealing, pickling, slitting, shearing, wire flattening, traverse winding, edge profiling, and finishing, enabling it to serve demanding industrial and automotive applications.

In 2024, Greer Steel shipped more than 18,000 tons of steel products, with the vast majority of sales generated in the United States and a smaller share delivered to customers in Canada. The business employs approximately 110 people and maintains a diversified customer base across automotive manufacturing, service centers, hardware, hand tools, and stamping markets, with automotive customers accounting for around 60 percent of revenues during the year.

Mutares views the acquisition as a platform investment that strengthens its position in the North American steel processing market while creating opportunities for cross-selling within the automotive sector. Under Mutares’ ownership, Greer Steel is expected to undergo a structured transformation program focused on operational enhancements, inventory optimization, and targeted investments. Planned initiatives include an ERP carve-out as well as integration measures designed to improve efficiency and scalability.

Commenting on the transaction, Johannes Laumann, Chief Investment Officer of Mutares, described the acquisition as a significant step in the group’s strategic development. He highlighted Greer Steel’s technical strengths and long-standing customer relationships as key foundations for future growth and noted that current U.S. trade conditions could further support the company’s competitive positioning as transformation efforts progress.

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SOURCE: Mutares SE & Co. KGaA