Service centre chain Reliance Steel & Aluminum has acquired northeastern metal distributor Admiral Metals, Kallanish learns.
In a statement today, Reliance announced the acquisition of Admiral Metal, for an undisclosed amount, as part of the company’s ongoing growth strategy.
“Admiral Metals fits within Reliance’s growth strategy and disciplined methodology of acquiring companies that are immediately accretive to our earnings, and complements Reliance’s existing business by increasing our product breadth,” explains Reliance ceo Jim Hoffman.
Admiral Metals, based in Woburn, Massachusetts, is a distributor of aluminum, brass, bronze, copper, and steel products for a wide range of end markets. Admiral operates eight service centre locations throughout the eastern US, distributing metal products to the semiconductor, automotive, medical, infrastructure, aerospace, and industrial markets. In 2020, the company’s net sales reached $134 million.
“We believe this acquisition will enable Admiral Metals to leverage Reliance’s scale in order to capitalise on further growth opportunities while maintaining its strong brand recognition,” Hoffman adds.
Zach Johnson USA