Steel Mills
Reliance Completes Acquisition of TSI
Written by Sandy Williams
January 4, 2016
Reliance Steel & Aluminum Co. has completed the acquisition of Tubular Steel, Inc., effective Jan. 1. TSI is a distributor and producer of carbon, alloy and stainless steel pipe, tubing and bar products. The company is headquartered in St. Louis, Mo., and ships from its seven U.S. service centers more than 2 million custom-cut lengths of pipe, tubing and bar products annually. A fabrication business in the St. Louis area services its customer base. TSI annual sales for 2014 totaled approximately $200 million.
“Tubular Steel is a strong company with a respected position in the market and we are very excited for TSI to join the Reliance family of companies,” commented Gregg Mollins, President and Chief Executive Officer of Reliance. “The addition of Tubular Steel, with specialty, high margin products, fits our growth strategy of investing in higher returning businesses, while expanding our product breadth and end market diversification. Energy is an important end market for Tubular Steel. Although current activity levels are lower than normal in this area, we are confident in the long term strength of the energy market and Tubular Steel’s ability to benefit during the recovery.”
TSI will operate as a wholly-owned subsidiary of Reliance Steel & Aluminum Co. and current management will remain in place. The terms of the transaction were not disclosed.
Sandy Williams
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