Kentucky Electric Steel is now under new ownership, as Optima Specialty Steel reportedly acquired the company for over $12 million.
“We are very excited to close on our acquisition of KES,” said Kevin Stevick, president and chief executive officer of Optima Specialty Steel. “We are thrilled to incorporate the company into the fold of Optima Specialty Steel, as this integration will enable us to further cement our position as an industry leader in the specialty steel market. KES has a long history of delivering quality products and value to its customers, and we look forward to honoring this legacy by continuing to serve the market with the highest standards of excellence.”
KES primarily manufactures products serving the auto industry in, including leaf-spring suspensions for light and heavy-duty trucks, and other vehicles. The company says it produces over 2,600 different specialty items.
The deal was completed early in February.