1/29/21

Vorys Advises Worthington Industries, Inc. with Sale of Pressure Cylinders Business Segment

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Vorys, Sater, Seymour and Pease LLP recently advised Worthington Industries, Inc. in connection with the sale by its Pressure Cylinders segment of its oil & gas equipment business to an affiliate of Ten Oaks Group.  The divestiture, which closed on January 29, 2021, includes the Westerman, Inc. subsidiary and the related operating assets located in Bremen, Ohio and Tulsa, Oklahoma.  Worthington Industries retained the real estate associated with the business and will lease it back to the new owners, who will operate the business under the Westerman name.