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Ohio company acquires Titan Metal Service of Tampa

 
Pablo Rodriguez drives a forklift near rolls of finished product at Titan Metal Service's Port Tampa Bay facility in July. Majestic Steel USA of Cleveland has acquired Titan's business assets and is taking over the company's 5-acre facility at the northern end of Hookers Point. CHRIS URSO   |   Times
Pablo Rodriguez drives a forklift near rolls of finished product at Titan Metal Service's Port Tampa Bay facility in July. Majestic Steel USA of Cleveland has acquired Titan's business assets and is taking over the company's 5-acre facility at the northern end of Hookers Point. CHRIS URSO | Times
Published Dec. 12, 2018

TAMPA — Majestic Steel USA of Ohio has acquired the business assets of Titan Metal Service of Tampa and is taking over Titan's nearly 5-acre steel-processing facility at Port Tampa Bay.

Terms of the deal were not disclosed.

Majestic, a family-owned and -operated company based in Cleveland, said the deal expands its presence in the market for coated, flat-rolled steel, especially in Florida.

In Tampa, Titan imports large rolls of steel from domestic and foreign mills, then cuts the steel into sheets or ribbons that manufacturers use to make products ranging from air-conditioning ducts to gym lockers. Chris Bush and Matt Rossi founded Titan under a different name in 1997 and moved the company from Clearwater to the port in 2007. This year the company's workforce had grown to about 25.

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"We are happy to welcome Titan Metal Service to the Majestic Steel USA family," Majestic president and CEO Todd Leebow said in an announcement released through the port. "We look forward to continuing to support the existing business while pursuing growth opportunities in the Southeast region. As a combined team, we are committed to providing quality products and services to our customers."

As part of the deal, the port's board voted in October to extend the lease for the facility, located at the northern end of Hookers Point, from 2026 to 2038, with six five-year extensions. The port also has slightly modified the lease to allow Majestic to bring in a more diversified range of steel services to the port.

"It's all steel products," port vice president of real estate Lane Ramsfield said Wednesday. "We're excited that Majestic has a desire to be long-term and a desire to grow their business. … We're excited to have that kind of tenant."

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Contact Richard Danielson at rdanielson@tampabay.com or (813) 226-3403. Follow @Danielson_Times