Kian Capital Transaction Announcement — Diamond Metals Distribution

Kian Capital is pleased to announce that in partnership with management it has recapitalized Diamond Metals Distribution (“Diamond Metals” or the “Company”), a Cleveland-based steel service center.

 

Founded in 1995, Diamond Metals provides value-added services such as production saw cutting, flame cutting, pre-squared finishing, and grinding and milling services to tool steels, hot and cold rolled steels, powdered metals, and alloy plates and rounds. Diamond Metals’ customers include tool and die shops, mold shops, machines shops and general metalworking manufacturers.

 

Mike Marrapese, Co-Founder and President of Diamond Metals, said “As a co-founder of Diamond Metals, it was important for me to select a financial partner with a collaborative, partnership-oriented approach and a shared vision for growth. Kian Capital has demonstrated these attributes from day one, and I am excited to partner with them as Diamond Metals continues to expand its market-leading tool steel capabilities during its next stage of growth.”

 

Kevin McCarthy, Partner at Kian Capital, said “Since co-founding Diamond Metals 23 years ago, Mike Marrapese has been a dynamic and innovative leader in the steel service center industry. Diamond Metals’ focus on tool steel, combined with its pre-squaring capabilities and rapid turnaround times, are key differentiators that speak to the Company’s strong value proposition with its customers. We look forward to partnering with Mike and his management team to grow Diamond Metals and expand upon the Company’s leading capabilities and expertise in tool steel.”