Monarch Supply is an oilfield supply company predominately servicing the Drayton Valley, Alberta area. Monarch Supply has annual revenues of approximately $50 million and earnings before interest and taxes of approximately $8 million. The purchase prices includes cash consideration of approximately $33 million plus a five year earnout to be paid based on future earnings before interest and taxes and return on net assets.

Monarch Supply will report to Don White, President and CEO of Apex Distribution, and the existing management and employee group will continue to be responsible for the operations of Monarch Supply.

Don White, President and CEO of Apex Distribution stated "Apex Distribution has benefited from a long time working relationship with Monarch Supply. There is an excellent fit between the product offerings, customer base and distribution capabilities of the two companies."

Brian R. Hedges, President and CEO of Russel Metals stated "The addition of Monarch Supply cements a long standing relationship between Monarch Supply and Apex Distribution and provides further growth for our business in the oilfield products market. We are also investing in greenfield locations through Apex Remington in the active shale plays in the USA, which will provide further growth opportunities for our energy segment."