Seyfarth Shaw Advises Mallan Family Trust on Sale of Main Steel Polishing Company

Contact:
Kevin Livingston, National Director of Public Relations
(312) 460-6681 / (212) 218-5272, klivingston@seyfarth.com

CHICAGO (March 3, 2011) —Seyfarth Shaw LLP announced that it has advised The Mallan Family Trust in its sale of Main Steel Polishing Company, Inc. to a subsidiary of Shale-Inland. The private transaction, which closed this week, results in Chicago-based Shale-Inland acquiring 100% of the stock of Tinton Falls, NJ-based Main Steel.

Main Steel Polishing Company is the largest processor of stainless steel in the United States with facilities in New Jersey, Pennsylvania, Ohio, Georgia, Illinois, and California. The company also processes aluminum, titanium, nickel-based alloys, and red metals. Main Steel was founded by Thomas Mallan Sr. 55 years ago.

“While it was extremely difficult to make the decision to sell the family business, I feel confident in the abilities and professionalism of Craig Bouchard and the Shale-Inland leadership team," stated Linda Mallan, Vice Chairman of the Board, Main Steel Polishing Company. "They (Shale-Inland) are dedicated to the quality, services, customer relationships, and employee loyalty that my late husband, Tom Mallan Sr., established more than 55 years ago. To that end, all employees will retain their positions, and Main Steel will continue to provide the same fine services and products to its account base with the added opportunity to grow in other ways."

The acquisition provides Shale-Inland with a national footprint in stainless steel and aluminum processing, supplementing its existing operating entities: Shale-Inland Stamping and Fabricating, Midland Chutes, and Shale-Solar LLC. Shale-Inland also received an equity investment from Little Rock, Arkansas-based The Stephens Group.

Seyfarth Shaw attorneys presenting The Mallan Family Trust include partners Ted Cornell (Corporate), Ronald Lipinski (Litigation), Robert Weber (Corporate), Ira Fierstein (Real Estate), Paul Drizner (Tax), Eric Boyd (Environment), and Joshua Ditelberg (Labor), along with associates Scott Elsworth, Jennifer Jones, Jay Melnick, Ilana Morady, and Zachariah Robert. All of the attorneys are based in Chicago.

Seyfarth Shaw has over 750 attorneys located in 10 offices throughout the United States, including: Atlanta, Boston, Chicago, Houston, Los Angeles, New York, Sacramento, San Francisco, and Washington D.C., as well as internationally in London. Seyfarth Shaw provides a broad range of legal services in the areas of labor and employment, employee benefits, litigation, corporate, and real estate. The firm’s practice reflects virtually every industry and segment of the country’s business and social fabric. Clients include over 300 of the Fortune 500 companies, financial institutions, newspapers and other media, hotels, health care organizations, airlines and railroads. The firm also represents a number of federal, state and local governmental and educational entities. For more information, please visit www.seyfarth.com.