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PINECREST SERVES AS EXCLUSIVE FINANCIAL ADVISOR TO ACTION STAINLESS & ALLOYS, INC.

DALLAS, TX (December 14, 2020) – Pinecrest Capital Partners (“Pinecrest”), a premier investment banking firm to middle-market companies, is proud to announce that Action Stainless & Alloys, Inc. (“Action Stainless”) has been acquired by Olympic Steel (Nasdaq: ZEUS). Pinecrest served as the exclusive financial advisor to Action Stainless.

Action Stainless is a full-line distributor of stainless steel and aluminum plate, sheet, angles, rounds, flat bar, tubing, and pipe and offers a range of processing, including plasma, laser and waterjet cutting, and CNC machining.

Pinecrest Managing Director, Bobby Renkes; Vice President, Wes Romanowski; and Associate, Austin Jolesch served as the investment bankers on this transaction.

“We are excited about the partnership with Olympic Steel as we think this is a perfect fit for the future of our business,” said Lee Martinson, President of Action Stainless. “I really enjoyed working with the Pinecrest team. They understood our goals and objectives throughout the entire process and their level of expertise was instrumental in helping us get this transaction closed.”

“Lee and his team were a pleasure to work with during the entire transaction process,” added Wes Romanowski, Vice President for Pinecrest. “We’re excited to see Action Stainless partner with Olympic Steel as the culture and safety focus of both companies will make for a seamless and successful integration. We look forward to seeing Lee & the Action Stainless team continue to provide the same level of products and service to its customers that it has for almost 40 years.”

Libby Sparks Willis Starnes, PLLC acted as legal counsel and Erben Associates provided estate and tax planning services to Action Stainless.

About Pinecrest Capital Partners:
Pinecrest Capital Partners is a premier investment banking firm based in Dallas, Texas that offers exclusive advisory services to middle-market companies with enterprise values typically ranging from $25 million to $500 million. Pinecrest’s team of highly experienced professionals operates across a variety of industries and is an expert in managing transaction processes. By focusing on high-touch advisory and one-stop solutions, Pinecrest works to position clients with the goal of maximizing transaction outcomes and realizing the full value of their companies. For more information about Pinecrest Capital Partners visit
www.pinecrestcap.com.

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