Reliance Steel and Aluminum (“Reliance”), metalweb’s parent company, has made a major acquisition of Metals USA, a deal worth an enterprise value of $1.2 billion.

The deal, which is expected to complete in the summer of 2013, will mean Reliance will have total assets of over $6.5 billion and annual sales of over $10.0 billion.  Metals USA is one of the largest metal service centre businesses in North America, producing carbon steel, stainless steel, aluminum, red metals and manufactured metal components.

David H. Hannah, Reliance’s Chairman and CEO, said: “We are very excited about Metals USA becoming an important part of the Reliance family of companies.

“Metals USA is an excellent fit and nicely complements Reliance’s existing customer base, product mix and geographic footprint.”
The acquisition strengthens Reliance’s group of metals businesses across the globe, which metalweb joined back in 2007.