KIRKWOOD — A Connecticut–based company has acquired the Kirkwood steel-service center Tarco Steel, Inc. and its fabricating subsidiary Metal Fab, LLC.
Bushwick Metals, LLC of Bridgeport, Conn. made public its purchase of the Binghamton–area companies today. Bushwick Metals, which distributes carbon steel, high-strength low-alloy steel, stainless steel, and specialty products, did not release terms of the deal.
The Connecticut firm is rebranding Tarco Steel and Metal Fab under the name Tarco Steel, a division of Bushwick Metals. Former Tarco owner Janet Beal will stay with the acquired company as its branch manager.
Tarco Steel serves the energy, manufacturing, steel-fabrication, construction, and maintenance industries in Central New York and Northeastern Pennsylvania. It was founded in 1970 and operates at 13 Spud Lane in a multi-building facility that includes 1,200 square feet of office space, 47,000 square feet of warehouse space, and 50,000 square feet of outdoor storage. Tarco Steel and its subsidiary employ about 35 people.
Bushwick Metals plans to install processing equipment that will boost Tarco Steel’s capacity. Acquiring the Binghamton–area companies is a way to grow, Bushwick Metals Commercial Vice President Stewart Lichtman said in a news release.
“Expanding into Central New York will accelerate Bushwick Metals’ growth in this region through increased service and more robust inventory levels,” he said. “This acquisition also allows us to offer additional value-added services and rebar fabrication to our customers in other geographic regions.”
Bushwick Metals is an affiliate of Butler, Penn.–based Marmon/Keystone, LLC. Both companies are Marmon Distribution Services/Berkshire Hathaway companies.
Contact Seltzer at rseltzer@cnybj.com