Tom Sedlak wasn’t born a rambling man, but he has been an avid traveler in recent years. The CEO of South Strabane-based Precision Marshall has traversed mainly through the Midwest, striving to ramp up his steel company.
Sedlak’s latest corporate excursion was to the Chicago area a couple of weeks ago, to participate in finalizing the acquisition of Central Steel Fabricators. Precision Marshall technically acquired the Broadview, Ill., firm for Live Ventures Inc., PM Steel’s parent company. Las Vegas-based Live Ventures, a diversified holding company, acquired the Washington County steelmaker in 2020. pp injection
The closing likewise enhanced the steelmaker’s business while boosting its workforce to 400-plus.
Central Steel Fabricators, a 55-year-old company, manufactures specialized fabricated metal products largely for data centers and the communications industry. It has two locations within a short distance: a union manufacturing facility in South Chicago, run by members of the Iron Workers Regional of Local 853, and a warehouse, headquarters and distribution site in Broadview.
Precision Marshall likewise has a physical presence in Illinois. Its national distribution center is in Bolingbrook.
PM Steel, as it is recognized informally, says on its website that it “is the largest independent producer of premium tool steel and alloy steel used in the tool and die industry.” The firm operates on a lofty expanse at 99 Berry Road, near the intersection of Interstates 70 and 79.
The company started modestly in 1948, as Precision Products Co., in the garage of Thomas R. Milhollan’s Washington home. Precision Marshall then proceeded to grow and gain momentum that continues today. The firm celebrated 75 years in business in 2023.
Live Ventures and Sedlak have become adept at producing acquisitions. They have made three within the past two years, enabling the CEO to form a steel manufacturing segment of four companies, of which he is in charge.
Precision Marshall set the foundation for that group, which, through acquisitions, now also features The Kinetic Co., Greendale, Wis. (acquired June 30, 2022); Precision Metal Works of Louisville, Ky. (July 24, 2023); and Central Steel Fabricators.
Live Ventures owns the flooring and retail segments of the holding company, along with vintage stock.
Sedlak said in a statement released by Live Ventures that “we are excited to add SSF to our steel manufacturing segment. CSF’s highly valued product offering and excellent customer service make it a strong addition to our business.”
He told the Observer-Reporter that this latest acquisition “adds more diversity from the steel industry into our group.”
More deals are likely ahead for Precision Marshall. “We’re always looking at pursuing acquisitions in the steel segment,” said Sedlak, who was raised in a steel-working family in Pittsburgh. “You will reach fruition on some pursuits and not on others.”
He has ownership’s backing on that. “Live Ventures wants to be proactive,” Sedlak said. “They want Precision Marshall to pursue acquisitions.”
That likely means more flights and road miles for the CEO.
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