Slate Capital Group, a private equity investment group based in Baltimore, Nashville, and Cincinnati that partners with lower-middle market companies, announced its acquisition of Cleveland’s Cumberland Diversified Metals, a leading value-added distributor and broker of specialty metals.
“We’ve had fortunate experience in the metals industry with O’Donnell Metal Deck, which proved that an accomplished, nimble, and customer-friendly solution provider can really thrive in its niche, especially with mid-sized customers who are often overlooked by the larger distributors and service providers. So, we were delighted when we partnered with Cumberland Diversified Metals, one of the most experienced distributors and brokers of specialty metals in the country,” says Rick Corcoran, Co-founder and Partner, Slate Capital Group.
We believe that the demand for specialty metals like aluminum and stainless steel will continue to grow and that customers will need a partner to secure the right supply at the right time for the right price. Cumberland Diversified Metals is the best in the business and provides valuable solutions for its vendors and customers,” continues Corcoran. “We are excited to be part of their ongoing growth plan. And above it all, it was great to complete an investment in Ohio so soon after expanding Slate Capital Group to Cincinnati.”
“Cumberland Diversified Metals already had decades of industry knowledge and some of the deepest relationships in the specialty metals industry. We are proud to work with our vendors and customers, helping them solve their important supply challenges. We believe we provide the best customer service in the business,” says Alex Newman, CEO, Cumberland Diversified Metals. “Now that we are partnered with Slate Capital Group, we have a financial partner who can assist us in achieving our ambitious growth plans. We are really excited about our future together.”
