MW Leadership Reflects on Acquisition of Metalwest
With the acquisition of Metalwest by Norfolk Iron & Metal (Norfolk Iron) approaching the 1-year mark, we thought it would be a great opportunity to talk with the members of the Metalwest leadership team to see how they feel about the acquisition and what it means for the two companies.
“Going through an acquisition can be very disruptive, for both the company buying and the company being bought. The Norfolk Iron team couldn’t have worked harder to make the transition as seamless possible. The result was very little disruption for both companies. The Norfolk Iron executive team has been fully supportive of Metalwest throughout our first year together. Their main goal is for Metalwest to continue operating profitably and find ways to grow an already very successful company. Every company has its own unique “personality” which means our cultures are a bit different. However, our company’s values are well-aligned. This makes Metalwest a perfect fit as part of the Norfolk Iron family of companies. Going into 2020, I’m excited about the opportunities that are in front of us as we leverage the combined strength of Norfolk Iron and Metalwest to grow our business together to higher levels than we thought possible.” – Jeff Simons, President, CEO
“For me the acquisition meant a great future and security for our team and our company. During the acquisition process the main goal of Metalwest leadership was to secure a future for the entire Metalwest team and we were able to accomplish this goal with Norfolk Iron. They made it abundantly clear that they wanted everyone to stay on board and run as we existed prior to the acquisition. We have owners/a parent company in Norfolk Iron who have the desire and willingness to invest in our future and our growth. This shows a tremendous amount of respect for our team and our abilities to perform successfully. For the Metalwest team, it means a bright future with owners who are supportive of growth through investment. The acquisition also means a return to our roots as Metalwest and I know this had a significant meaning to a majority of our employees. The name change allows us to return to an identity of a very successful and entrepreneurial company.” – Phill Cavender, Senior Vice President
“I’m comforted that Norfolk Iron and Metalwest share the same values. Things like safety, integrity, win-win relationships, and customer service are paramount to both companies. Becoming a part of the Norfolk Iron family provides us the opportunity to offer more products and services to our customers that value sourcing from a company with our shared values. It’s inspiring that both companies are doing an excellent job of collaborating with one another to develop and capture the best experience for our customers, suppliers, and employees. I’m excited to combine the Metalwest success of the last several years with the financial strength of Norfolk Iron, I feel we are poised to grow and expand even more with the combined companies. The future is bright!” – Tony Hammes, Vice President of Supply Chain
“The acquisition of Metalwest by Norfolk Iron initially created concern for many of the Metalwest team members. Being acquired by another company creates uncertainty and the potential for change. Fortunately, Norfolk Iron and their leadership share all of the important values that Metalwest considers to be at the core of our culture. Norfolk Iron’s integrity and commitment to excellence have made for the successful transition of ownership for Metalwest. Norfolk Iron is family owned and family oriented, and they have consistently displayed those values as they have welcomed Metalwest into the Norfolk Iron family of companies.” – Brian Madison, Vice President of Corporate Services
“Its personally rewarding to work for a company that is appreciative of the contribution you make to their success. The folks at Norfolk Iron share the same values as the Metalwest leadership team and that makes it easy to communicate and work through the myriad of integration issues. I think that Metalwest has a much brighter future with Norfolk Iron because they see Metalwest as an important vehicle for growth and is willing to invest the money necessary to move the company forward. It is imperative that we reward their generosity with industry leading return on capital.” – Bruce Pole, Vice President, CFO
It seems like the Metalwest leadership team views the acquisition positively and are excited about the future. We also talked with the Norfolk Iron leadership team to get their side of the story as well. You can check it out on their blog, Norfolk News.