VENTURE CAPITAL ACCESS ONLINE - CDM
Slate Capital Group Acquires Cumberland Diversified Metals
June 15, 2023
— Leading Cleveland, Ohio Distributor and Broker Added to Team’s Portfolio —
Slate Capital Group, a private equity investment group based in Baltimore, Nashville, and Cincinnati that partners with lower-middle market companies, announced today its acquisition of 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,” shared 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,” continued 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,” said 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.”
About Cumberland Diversified Metals
Cumberland Diversified Metals (CDM), based in Cleveland, Ohio, has particular product strength in prime and secondary stainless steel, prime and secondary aluminum, titanium, and nickel. Building its business over the past 37 years, CDM has developed a reputation for deep market knowledge and first-class customer service. Cumberland Diversified Metals buys and sells materials throughout the USA, Canada, and Mexico. For more information, visit https://www.cumberlandmetals.com.
About Slate Capital Group
Slate Capital Group is a private equity investment group based in Baltimore, Nashville, and Cincinnati that partners with lower-middle market companies. Slate provides liquidity to business owners and growth capital to businesses for further expansion. The principals of Slate Capital Group have significant experience in both running small-to-mid-sized companies and investing in leveraged buyout transactions. The firm’s primary areas of focus include business services, distribution, and select light manufacturing investments.
Slate Capital Group’s portfolio currently consists of businesses with nationwide offices including Cumberland Diversified Metals, Horizon Facilities Services, O’Donnell Metal Deck & Bar Joist, and Vertical Mechanical Group. Past investments have included AllTrust Networks, Broadcast Sports International, CoastTec, DoublePositive Marketing Group, eCoast Marketing, Let’s Dish!, Nova Technologies, Questar Assessment, Social Solutions, and White Distribution & Supply. For additional information, visit https://www.SlateCap.com.