Reliance Steel and Aluminum has agreed to acquire Houston, Texas-based plate and bar distributor American Alloy Steel, Kallanish understands.
The acquisition will increase Reliance’s value-added processing capabilities in burning, cutting, rolling and beveling, the Scottsdale, Arizona-based company states.
“We look forward to continuing to grow the American Alloy business, especially in value-added processing, as well as leveraging our collaboration efforts to expand the product and service offerings of both American Alloy and our existing Reliance companies as they find opportunities to work together and grow,” says Reliance ceo Karla Lewis.
The sale price was not disclosed. Reliance says the transaction includes all related real estate assets and outstanding equity interests of American Alloy Steel, which had 2023 net sales of approximately $310 million.
The transaction is expected to be completed within 60 days, pending customary closing procedures and regulatory review. American Alloy’s team, including management, is expected to remain in place through the transition.
American Alloy Steel is a leading distributor of specialty carbon and alloy steel plates and round bars, including pressure vessel quality material. The company operates five service centres in the US, a US-based plate fabrication business, and a joint venture in Canada. In addition to its customers across North America, American Alloy serves international markets for military, infrastructure, power generation, utility, refining, petrochemical, mining, shipbuilding and marine application industries.
Kristen DiLandro USA
