On May 9, 2022, Jacquet Metals Group (EPA: JCQ), a leading European distributor of specialty steels, acquired all issued and outstanding shares of Fidelity PAC Metals Ltd., a master distributor of stainless steel long products. Fidelity PAC Metals operated logistics centres in Toronto, Montreal, and Vancouver. The acquisition aimed to strengthen Jacquet Metals' positioning in North America by leveraging Fidelity PAC Metals' established distribution network and market presence.

JACQUET Metals Canada, the Canadian subsidiary of Jacquet Metals, facilitated the transaction, reflecting Jacquet Metals' strategic intent to expand its market reach and operational capabilities across North America. The financial details of the transaction were not disclosed.

Legal advisors for the transaction included Miller Thomson for Jacquet Metals and Wildeboer Dellelce for Fidelity PAC Metals. This acquisition marked a significant step for Jacquet Metals in consolidating its presence and enhancing its distribution capabilities in the North American market, further solidifying its status as a global leader in the specialty steels distribution sector.