---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-028241"
form_type: "8-K"
ticker: "FRD"
cik: "0000039092"
company_name: "FRIEDMAN INDUSTRIES INC"
filed_at: "2025-09-03T23:59:59+00:00"
generated_at: "2026-05-17T08:40:47.890757+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Friedman Industries acquires Century Metals for $45.25M cash plus $3.5M note and earn-out

## Summary
- Acquired Century Metals & Supplies for $45.25M cash at closing, $3.5M promissory note, and up to $10M earn-out over four years.
- Century Metals had average annual revenues of ~$111M over past three fiscal years; deal expected to be immediately accretive.
- Acquisition adds facilities in Miami (owned), Orlando and Tampa (leased), and expands into cold-rolled, coated, stainless steels and non-ferrous.
- Credit facility amended: commitments reduced to $125M, maturity extended to August 29, 2030, with Wells Fargo replacing BMO as lender.
- Friedman gains coil slitting capabilities and access to residential and corrosion-resistant markets.

## SEC filing metadata
- accession: 0001437749-25-028241
- form_type: 8-K
- ticker: FRD
- cik: 0000039092
- company_name: FRIEDMAN INDUSTRIES INC
- filed_at: 2025-09-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/39092/000143774925028241/0001437749-25-028241-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/39092/000143774925028241/frd20250902_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-028241
- JSON: https://secwatch.observer/filing/0001437749-25-028241.json
- Plain text: https://secwatch.observer/filing/0001437749-25-028241.txt

## Key facts
- Debt Financings
  FRIEDMAN INDUSTRIES INC amended credit facility of reduce the aggregate commitments under the A&R Credit Agreement from $150 million to $125 million with JPMorgan Chase Bank, N.A., as administrative agent at prime rate plus a margin of -1.45% or adjusted Term SOFR plus a margin of 1.55% maturing August 29, 2030.
  - Instrument: credit facility
  - Principal: reduce the aggregate commitments under the A&R Credit Agreement from $150 million to $125 million
  - Counterparty: JPMorgan Chase Bank, N.A., as administrative agent
  - Rate: prime rate plus a margin of -1.45% or adjusted Term SOFR plus a margin of 1.55%
  - Maturity: August 29, 2030
  - Event: amendment
  source text: Harris Bank N.A. is replaced as a lender under the A&R Credit Agreement with Wells Fargo Bank, N.A., (iii) reduce the aggregate commitments under the A&R Credit Agreement from $150 million to $125 million, (iv) provide for revolving borrowings either at prime rate plus a margin of -1.45% or adjusted Term SOFR plus a margin of 1.55%, (v) extend the maturity date to
  evidence_url: https://www.sec.gov/Archives/edgar/data/39092/000143774925028241/0001437749-25-028241-index.htm
- Debt Financings
  FRIEDMAN INDUSTRIES INC incurred senior notes of $3.5 million with Sellers of Century Metals & Supplies, Inc. maturing five-year maturity date.
  - Instrument: senior notes
  - Principal: $3.5 million
  - Counterparty: Sellers of Century Metals & Supplies, Inc.
  - Maturity: five-year maturity date
  - Event: incurrence
  source text: a note issued by the Company with a principal amount of $3.5 million with a five-year maturity date
  evidence_url: https://www.sec.gov/Archives/edgar/data/39092/000143774925028241/0001437749-25-028241-index.htm
- M&A Transactions
  FRIEDMAN INDUSTRIES INC completed an acquisition involving Century Metals & Supplies, Inc. for approximately $45.25 million in cash (closed 2025-08-29).
  - Action: acquisition
  - Counterparty: Century Metals & Supplies, Inc.
  - Consideration: approximately $45.25 million in cash
  - Closing: 2025-08-29
  source text: Under the terms of the agreement, the Company acquired the assets for approximately $45.25 million in cash at closing, along with a note issued by the Company with a principal amount of $3.5 million with a five-year maturity date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/39092/000143774925028241/0001437749-25-028241-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.