The Bottom Line: Mill Steel Corp, Albany International and HPM Insurance

A roundup of news updates from public companies in NH and nationwide

MILL STEEL CORP. ACQUIRED BY BROOKSIDE HOLDINGS

Mill Steel Corporation, a steel service center distributing structural and abrasion resistant steel as well as providing shop services and recycling logistics, has been acquired by Brookside Holdings LLC. Brookside is a diversified holding company with a portfolio of businesses in the construction materials and services markets throughout the Northeast.

Headquartered in Manchester, NH, Mill Steel is an independent steel service center that sells a broad range of steel products and other metals since its founding in 1988. In addition to its customizable forming, bending and rolling capabilities, Mill Steel provides specialized repair and renovation work catered to major construction and asphalt companies along with being a distributor of Hardox steel in northern New England.

Mill Steel will continue to be led by CEO Bob Dahlinger, who has built the business into a leader in the New England marketplace over his 28 years with the company.

BaldwinClarke’s investment banking division, Baldwin & Clarke Corporate Finance, LLC (BCCF), served as the exclusive financial advisor to Mill Steel Corporation and its shareholders on its acquisition by Brookside Holdings LLC. BCCF represented the company’s shareholders as they sought to find a well-suited new owner that has the resources and capabilities to build upon the company’s standing as an industry leader and to continue its legacy of superior customer service.

McLane Middleton, P.A. and CBIZ, Inc. served as legal and accounting advisors to the company. Terms of the transaction were not disclosed.

ALBANY INTERNATIONAL INTEGRATES COMMUNITY WITH LEADERSHIP

Albany International (NYSE: AIN), a global materials science company based in Portsmouth incorporated a community service initiative into its First Annual Global Leadership Summit, held Jan. 27–29 in Portsmouth, reinforcing the company’s commitment to social responsibility alongside leadership development.

As part of a team-building event on Jan. 28, leaders from across the company participated in the “End Hunger Games,” a program facilitated by FullTilt that combines collaborative challenges with charitable giving. Teams competed in activities including tower building, relay races and 3D sculpture construction using nonperishable food items.

At the conclusion of the event, all food items were donated to Gather Food Pantry, a Portsmouth-based nonprofit that provides nutritious food and prepared meals to individuals and families experiencing food insecurity across the New Hampshire Seacoast and parts of Maine.

“Incorporating a charitable component into our Global Leadership Summit reflects Albany International’s core values and focus on giving back,” said Gunnar Kleveland, president and CEO of Albany International. “The experience strengthened connections among our leaders while delivering meaningful support to a local organization doing important work.”

Albany International said it plans to continue integrating community engagement into future leadership and development initiatives.

HPM INSURANCE AND INSURANCE SOLUTIONS CORPORATION ANNOUNCE MERGER

HPM Insurance and Insurance Solutions Corporation (ISC) have announced a merger that brings together two established New Hampshire insurance agencies with shared commitments to client service, community involvement and industry expertise.

The merger builds on a previously announced strategic affiliation and is designed to accelerate collaboration between the organizations. By aligning teams, technologies and core values, the combined agencies aim to enhance service offerings, improve operational efficiency and strengthen carrier partnerships. Clients throughout New Hampshire and New England will gain access to expanded resources and a broader range of insurance solutions.

As part of the merger, the organizations will expand their health and life insurance departments, increasing employee benefits and coverage options available to clients. Leigh Pappaladro, vice president of ISC, noted that the merger will also support continued investment in technology to provide access to more comprehensive benefit plans and modern HR management tools.

The combined organization will continue operating under the HPM Insurance and Insurance Solutions Corporation brands and will maintain all existing office locations across New Hampshire. Clients will continue working with their current teams while benefiting from broader market access, expanded products and enhanced service capabilities with shared resources.