ATLANTA, GEORGIA (February 2008) - On January 31, 2008, Tubular Products Company was acquired by Samuel Manu-Tech Inc., a publicly-traded industrial products company that is listed on the Toronto Stock Exchange (TSX: SMT). The acquisition was structured as an all-stock transaction for $33 million cash plus an additional one-year provisional performance payment. 

Based in Birmingham, Alabama, Tubular is a closely-held, family-owned business and a recognized leader in the design, engineering, manufacturing and supply of value-added laser cut carbon steel tubing, fabricated tubular components, and welded sub-assemblies. Tubular’s products are sold into a variety of end markets, including outdoor and power transmission equipment, all-terrain, automotive and other vehicles and reusable coil carriers throughout North America.  

SMT also manufactures complementary carbon steel tubing products. However, this transaction allows SMT to expand its steel tubing operations and further develop its value-added products throughout its North American footprint. 

Navigant Capital Advisors, LLC (“NCA”) was engaged as Tubular’s exclusive financial advisor for this transaction. In originating this engagement, NCA worked extensively with Tubular’s shareholders to effectively market the Company to a diverse group of strategic and financial acquirers by (i) illustrating Tubular’s broad product offerings to multiple and diverse end markets, and (ii) highlighting the Company’s value-added processing capabilities that consistently drive high-margin operating performance. NCA’s successful marketing process resulted in significant interest in Tubular, whereby NCA structured, negotiated and successfully closed the acquisition.