|Reliance Steel & Aluminum Co. Acquires National Specialty Alloys, LLC|
LOS ANGELES--(BUSINESS WIRE)--Reliance Steel & Aluminum Co. (NYSE:RS) announced today that it has acquired all the outstanding limited liability company interests of National Specialty Alloys, LLC (“NSA”), a global specialty alloy processor and distributor of premium stainless steel and nickel alloy bars and shapes, headquartered in Houston, Texas. NSA was founded in 1985 and has additional locations in Anaheim, California, Buford, Georgia and Tulsa, Oklahoma. Net sales of NSA for the twelve months ended October 31, 2011 were approximately $96.0 million. National Specialty Alloys, LLC will operate as a wholly-owned subsidiary of Reliance Steel & Aluminum Co. Current management will remain in place with Mark Russ continuing as President of NSA. Terms of the transaction were not disclosed.
“We are very excited to add National Specialty Alloys, LLC to the Reliance family of companies. NSA has a strong commitment to customer service and has continually grown with expansion into higher-end products as well as new geographic and customer markets. In addition to enhancing our existing product offerings with the addition of specialty stainless steel and nickel products, NSA also expands and complements our exposure to the fast-growing energy market. NSA’s primary end market is the energy market with particular emphasis on horizontal drilling and completion tools, pumps and valves used in the drilling and production of oil and gas. Other major markets NSA serves are the petrochemicals, power generation (including nuclear), water and waste treatment, pulp and paper, marine equipment, military and defense, aerospace and other industrial machinery markets,” said David H. Hannah, Chairman and CEO of Reliance.
NSA was sold by a consortium of investors led by Post Oak Energy Capital, LP and included Chesapeake Investments LLC, Solar Capital Ltd., CarVal Investors, LLC and LRC Speciality, LLC. Moelis & Company LLC acted as exclusive financial advisor to NSA and the consortium of investors.
Reliance Steel & Aluminum Co., headquartered in Los Angeles, California, is the largest metals service center company in North America. Through a network of more than 220 locations in 38 states and Belgium, Canada, China, Malaysia, Mexico, Singapore, South Korea, the U.A.E. and the United Kingdom, the Company provides value-added metals processing services and distributes a full line of over 100,000 metal products to more than 125,000 customers in a broad range of industries.
Reliance Steel & Aluminum Co.’s press releases and additional information are available on the Company’s web site at www.rsac.com. The Company was named to the 2011 “Fortune 500” List and the 2012 Fortune List of “The World’s Most Admired Companies.”
This release may contain forward-looking statements. Actual results and events may differ materially as a result of a variety of factors, many of which are outside of Reliance Steel & Aluminum Co.’s control. Risk factors and additional information are included in Reliance Steel & Aluminum Co.’s reports on file with the Securities and Exchange Commission, including Reliance Steel & Aluminum Co.’s Annual Report on Form 10-K for the year ended December 31, 2011.