Heritage Capital Group Facilitates Acquisition of Jemison Metals by SPS Companies
On August 7, 2026, Heritage Capital Group, Inc., a prominent investment banking and financial advisory firm, announced that their client, Jemison Metals, has been successfully acquired by SPS Companies, Inc. The acquisition represents a strategic move for both companies in the competitive steel distribution and processing market.
Founded in 1949 and headquartered in Birmingham, Alabama, Jemison Metals is a leading supplier of carbon flat-rolled products across the United States and Mexico. The company has established a robust presence with steel service centers located in several states, including Alabama, Georgia, Ohio, South Carolina, and Virginia. In terms of industry ranking, Jemison Metals was recognized as the 35th largest service center company in North America by the 2025 Metal Center News Top 50.
On the other hand, SPS Companies, established in 1933 and based in Manhattan, Kansas, is a family of privately held companies that specializes in steel distribution, processing, and logistics. SPS offers a diverse range of carbon steel products and integrated supply chain solutions to clients throughout the U.S. and Mexico, earning recognition as the 16th largest service center company in North America, as per the same Metal Center News listing.
David Brown, Chairman of Jemison Investment Company, expressed enthusiasm about the acquisition, noting that it represents an exciting opportunity for Jemison Metals. "We are grateful to Heritage Capital Group for their thoughtful guidance and steady execution of the sale process," he stated. He highlighted the firm's comprehensive understanding of their objectives, assisting them in evaluating potential buyers to secure a partnership aligned with the long-term vision of growth.
Pete Heinke, Chairman of Jemison Metals, also praised Heritage's expertise throughout the transaction. He emphasized that the team’s deep understanding of their business operations and the steel industry contributed significantly to a successful sale. Heritage Capital’s team managed the process efficiently, which was vital for both employees and customers as the company enters this new growth phase.
John Simon, Chief Strategy Officer of SPS Companies, noted that working with Heritage Capital provided valuable insights into the opportunities that Jemison Metals would contribute to the SPS family. He remarked on the professionalism exhibited during the complex acquisition process, showcasing the expertise of Heritage Capital Group.
John Montgomery, the lead principal for this transaction at Heritage, acknowledged Jemison's reputation for innovation and superior customer service. He conveyed his appreciation for collaborating with the Jemison team to position the company favorably for its next chapter, underlining Heritage’s satisfaction in helping find a strategic partner to further its legacy.
Heritage not only served as the exclusive advisor to Jemison Investment Company and Jemison Metals but also facilitated a legal framework for the acquisition through Butler Snow LLP as counsel. The transaction was supported by the efforts of John Montgomery along with team members like JP Allen and Robert Cilek, and exemplifies Heritage Capital Group's prowess in navigating mergers and acquisitions within the middle market, emphasizing their role as a trusted advisory firm in the sector.
Despite the significance of this acquisition, specific terms of the deal have not been disclosed, but the shared goals of industry leadership and enhanced service offerings are evident. This acquisition sets a promising precedence for the continued evolution of both Jemison Metals and SPS Companies as they look towards future endeavors together. Heritage Capital Group further solidifies its reputation as a pivotal player in the investment banking landscape, dedicated to servicing middle-market and emerging-growth companies with expert advisory in mergers, acquisitions, and capital raises. Completing this transaction not only highlights their advisory capabilities but also emphasizes the continuing importance of strategic partnerships in enhancing market reach and operational efficiencies within the steel industry.
Founded in 1949 and headquartered in Birmingham, Alabama, Jemison Metals is a leading supplier of carbon flat-rolled products across the United States and Mexico. The company has established a robust presence with steel service centers located in several states, including Alabama, Georgia, Ohio, South Carolina, and Virginia. In terms of industry ranking, Jemison Metals was recognized as the 35th largest service center company in North America by the 2025 Metal Center News Top 50.
On the other hand, SPS Companies, established in 1933 and based in Manhattan, Kansas, is a family of privately held companies that specializes in steel distribution, processing, and logistics. SPS offers a diverse range of carbon steel products and integrated supply chain solutions to clients throughout the U.S. and Mexico, earning recognition as the 16th largest service center company in North America, as per the same Metal Center News listing.
David Brown, Chairman of Jemison Investment Company, expressed enthusiasm about the acquisition, noting that it represents an exciting opportunity for Jemison Metals. "We are grateful to Heritage Capital Group for their thoughtful guidance and steady execution of the sale process," he stated. He highlighted the firm's comprehensive understanding of their objectives, assisting them in evaluating potential buyers to secure a partnership aligned with the long-term vision of growth.
Pete Heinke, Chairman of Jemison Metals, also praised Heritage's expertise throughout the transaction. He emphasized that the team’s deep understanding of their business operations and the steel industry contributed significantly to a successful sale. Heritage Capital’s team managed the process efficiently, which was vital for both employees and customers as the company enters this new growth phase.
John Simon, Chief Strategy Officer of SPS Companies, noted that working with Heritage Capital provided valuable insights into the opportunities that Jemison Metals would contribute to the SPS family. He remarked on the professionalism exhibited during the complex acquisition process, showcasing the expertise of Heritage Capital Group.
John Montgomery, the lead principal for this transaction at Heritage, acknowledged Jemison's reputation for innovation and superior customer service. He conveyed his appreciation for collaborating with the Jemison team to position the company favorably for its next chapter, underlining Heritage’s satisfaction in helping find a strategic partner to further its legacy.
Heritage not only served as the exclusive advisor to Jemison Investment Company and Jemison Metals but also facilitated a legal framework for the acquisition through Butler Snow LLP as counsel. The transaction was supported by the efforts of John Montgomery along with team members like JP Allen and Robert Cilek, and exemplifies Heritage Capital Group's prowess in navigating mergers and acquisitions within the middle market, emphasizing their role as a trusted advisory firm in the sector.
Despite the significance of this acquisition, specific terms of the deal have not been disclosed, but the shared goals of industry leadership and enhanced service offerings are evident. This acquisition sets a promising precedence for the continued evolution of both Jemison Metals and SPS Companies as they look towards future endeavors together. Heritage Capital Group further solidifies its reputation as a pivotal player in the investment banking landscape, dedicated to servicing middle-market and emerging-growth companies with expert advisory in mergers, acquisitions, and capital raises. Completing this transaction not only highlights their advisory capabilities but also emphasizes the continuing importance of strategic partnerships in enhancing market reach and operational efficiencies within the steel industry.
Topics General Business）
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