Heritage Capital Group, Inc., an investment banking and financial advisory firm serving middle-market and emerging growth companies in the U.S. and worldwide, is pleased to announce that its client, Jemison Metals, has been acquired by SPS Companies, Inc., a Kansas Corporation.
Jemison Metals is a majority-owned operating company of Jemison Investment Company, a privately held holding company founded in 1949. Headquartered in Birmingham, Ala., it is a leading supplier of carbon flat-rolled products in the United States and Mexico, with steel service centers in Alabama, Georgia, Ohio, South Carolina and Virginia. It was the 35th largest service center company in North America in the 2025 Metal Center News (MCN) Top 50.
SPS Companies, Inc. is a family of privately held steel distribution, processing, and logistics companies founded in 1933 and headquartered in Manhattan, Kan. They provide a broad range of carbon steel products, value-added processing, fabrication, and supply chain services to customers across the United States and Mexico. SPS Companies was the 16th largest service center company in North America in the 2025 Metal Center News (MCN) Top 50.
“This transaction represents an exciting next step for Jemison Metals,” said David Brown, Chairman of Jemison Investment Company. “We are grateful to Heritage Capital Group for their thoughtful guidance and steady execution of the sale process. Their team understood our objectives, helped us evaluate the right opportunities, and worked with us to select a buyer that will position the company for continued long-term success.”
“We appreciate the expertise Heritage Capital Group brought to this transaction,” said Pete Heinke, Chairman of Jemison Metals. “Their team’s understanding of our business and industry is unmatched, and they managed this sale efficiently from start to finish. Heritage was instrumental in helping us identify the right partner and ensuring a successful outcome for our employees and customers as we move into this next phase of growth.”
“Heritage Capital provided us with a thoughtful and nuanced understanding of the opportunity that Jemison Metals provides to the SPS Family of Companies. It was a pleasure working through a complex acquisition with such a professional organization” said John Simon, Chief Strategy Officer of SPS Companies, Inc.
“Jemison Metals has built a strong reputation through the business cycle as an innovative partner and for superior customer service,” said John Montgomery, lead principal for the transaction at Heritage Capital Group. “It was a pleasure to work alongside David Brown, Pete Heinke and their team to position the company for its next chapter. We’re proud to have helped identify a strategic partner that will build on Jemison’s legacy and support its continued growth and success.”
Heritage served as the exclusive advisor to Jemison Investment Company and Jemison Metals. Butler Snow LLP served as legal counsel. The deal team was led by John Montgomery. Transaction support for the deal was provided by JP Allen and Robert Cilek along with Chad Potter, Stan Baucum, Doug Kravet, Bill Sales, Bert Tenenbaum and Mike Young of HCG’s broader Metals team. The terms of the transaction were not disclosed.
