Zekelman Industries

Zekelman Industries is a Canadian company owned by the Zekelman family, including billionare Barry Zekelman.[1] They own Atlas Tube, a steel tubing manufacturer in Canada and United States.

A Zekelman Industries subsidiary, Wheatland Tube, donated $1.75mm to the America First Action super-PAC to elect Donald Trump, a financial maneuver considered questionable for a foreign citizen.[1][2] Barry Zekelman dined with Donald Trump at a private Trump Hotel DC dinner by America First Action. Zekelman lobbied Trump regarding steel tariffs, the border wall, and trucking regulations.[2] Zekelman Industries provides steel tubing to the US-Mexico border wall.[1]

Barry Zekelman owns a million-dollar cigarette boat named "Man of Steel".[1][3]

Zekelman also has owned several superyachts named "Man of Steel"; he previously owned a 2005 36.8 metres (121 ft) Heesen 3700 named "Man of Steel". He replaced this with a steel-hulled 50 metres (160 ft) Heesen in 2008, the largest they had built at the time. It was sold and renamed "Inception".[4] The third "Man of Steel" superyacht was an aluminum-hulled 49.8 metres (163 ft) Heesen purchased by Zekelman in 2019; it was previously named the "Satori" and then the "Septimus".[5][6]

A third boat, described as a lake boat, is also named "Man of Steel".[1][3]

Subsidiaries

Zekelman subsidiaries and locations include:[7]

History

John Maneely Co was created in 1877.

Sharon Tube was founded in 1929.

Wheatland Tube was created as a subsidiary of John Maneely Co in 1931.

Atlas Tube was founded in 1984 by Harry Zekelman. A majority stake was sold to the Carlyle Group in 2006 for $1.5 billion CND.[3]

In 2006-2008, the Carlyle Group purchased John Maneely Co for $550 million,[8] then purchased Atlas Tube, and Sharon Tube, forming them into JMC Steel Group under DBO Holdings. Carlyle and Zekelman nearly sold them to Novolipetsk Steel (NLMK) for $3.5 billion in 2008, but the deal fell through in late 2008, with DBO/Carlyle suing NLMK for breach of contract.[8][9][3][10][11] DBO/Carlyle and NLMK settled their lawsuit in 2009, with NLMK paying $234 million.[12]

Picoma became part of JMC in 2009. Carlyle sold a majority stake to the Zekelman family in 2011[8] it to Zekelman Industries in 2016.

See also

References
  1. "He's One of the Biggest Backers of Trump's Push to Protect American Steel. And He's Canadian". nytimes.com. Retrieved 25 January 2020. Barry Zekelman, a Canadian billionaire whose business is mostly in the United States, is not a guy who likes to lose — or go slow. On days off, he likes to race his Ferrari 488 sports cars. Or he might climb aboard his Gulfstream IV jet to fly to the Bahamas to visit his 121-foot superyacht, which he named “Man of Steel” in a nod to his role as chief executive of Zekelman Industries, North America’s largest steel-tube manufacturer.
  2. "Tape Made Public of Trump Discussing Ukraine With Donors". nytimes.com. Retrieved 25 January 2020. Mr. Zekelman, a Canadian citizen who owns a steel tube manufacturing company that donated $1.75 million to the political action committee supporting Mr. Trump, pushed the president on what he saw as the top two challenges facing his company: cheap steel tube imports from Asia and new federal rules that make it harder to find truck drivers.
  3. "Windsor's man of steel bends to market forces". The Globe and Mail. Retrieved 8 February 2020.
  4. "Inception". superyachttimes.com. Retrieved 8 February 2020.
  5. "Man Of Steel". superyachttimes.com. Retrieved 8 February 2020. Septimus
  6. "Price Drop on Heesen Motor Yacht Man of Steel". Boat International. Retrieved 8 February 2020.
  7. "Locations | Zekelman Industries". Zekelman Industries. Retrieved 8 February 2020.
  8. Editorial, Reuters. "UPDATE 1-Carlyle says to sell JMC Steel stake". U.S. Retrieved 8 February 2020.
  9. Editorial, Reuters. "Carlyle steel unit sale to Russian firm collapses". U.S. Retrieved 8 February 2020. DBO Holdings
  10. "Former Atlas Tube part of Novolipetsk deal". The Globe and Mail. Retrieved 8 February 2020. The company, with 2,100 employees in the United States and Canada, operates through its Wheatland and Atlas Tube divisions and has estimated 2008 sales of around $3-billion.
  11. Roknick, Michael (25 October 2006). "Wheatland Tube's owner merging with Atlas Tube in $1.5 billion deal". The Herald. Retrieved 8 February 2020.
  12. "Carlyle Will Get $234 Million Settlement For Failed Deal With Novolipetsk Steel - Global Custodian – The Leading quarterly magazine covering the international securities services industry". Global Custodian – The Leading quarterly magazine covering the international securities services industry. Retrieved 8 February 2020.
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