Quanex funds two acquisitions for $228 million with revolver borrowings

New York, Jan. 1 - Quanex Corp. said it closed on two acquisitions totaling $228 million with borrowings under its $310 million revolving credit facility.

Quanex paid $115 million in cash to buy the Monroe, Mich., steel mill of North Star Steel, a subsidiary of Cargill Inc.

Quanex, a Houston manufacturer of engineered materials and components for the vehicle and building products markets, said it paid $113 million in cash to buy TruSeal Technologies Inc. from Kirtland Capital Partners.

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