Holding Company Sells Off Superior Forge

Metal Management Inc. said it completed the sale of its Superior Forge West Coast forging operation in Huntington Beach to a group of investors led by Gerard M. Jacobs, former chief executive of Metal Management, for $17.1 million, mostly in cash.

Jacobs departed as chief executive of the Chicago-based Metal Management, a holding company for a group of metal recycling businesses, to put together the investors’ group. His partners are Superior’s current top officers, Ian Albert and Alan Shumway, who will continue to manage the firm.