Service Centers
January 15, 2017
Jerry Henry, Jr. Acquires Remaining 50% Interest in Paragon Steel
Written by John Packard
BUTLER, IND. – January 12, 2017 – Jerry Henry, Jr. announced today that he has acquired the remaining 50 percent equity interest in Paragon Steel, LLC. Paragon Steel is a distributor and “toll processor” of flat-rolled steel products for a wide range of customers. The company was founded in 1994 as a joint-venture between Henry and Steel Dynamics, Inc. As a result of this transaction, Henry now owns 100 percent of Paragon Steel. Paragon Steel has grown significantly over the years and currently employs approximately 60 people at two facilities located in Butler, Indiana near the Steel Dynamics, Inc. sheet mill. The Henry family will oversee operations at Paragon Steel.
Henry also owns Midwest Pipe & Steel, Inc. and Paragon Tube Corp. The Midwest division has grown dramatically in the flat-rolled segment in recent years. The acquisition of the remaining 50 percent equity ownership will provide capacity and capability for companies owned by Henry to continue to grow in the flat-rolled steel market.
