Service Centers
Reliance’s Latest Acquisitions: Nu-Tech, Admiral Metals
Written by Tim Triplett
December 14, 2021
Reliance Steel & Aluminum Co. announced two more acquisitions this month, bringing the total to 70 since the service center giant’s IPO in 1994. The latest additions to Reliance’s portfolio are Admiral Metals Servicecenter Co. Inc. and Nu-Tech Precision Metals Inc.
Admiral Metals, Woburn, Mass., is a distributor of nonferrous metal products serving the semiconductor, automotive, medical, infrastructure, aerospace and industrial markets through its eight locations. Its broad product offering includes aluminum, brass, bronze, copper, stainless steel and steel in a variety of forms and shapes.
Admiral Metals reported annual sales of $134 million in 2020. Terms of the transaction were not disclosed.
“Admiral Metals has built a strong reputation in the metals industry for providing specialty products, high levels of customer service and next-day delivery,” Reliance CEO Jim Hoffman said. “Admiral Metals fits within Reliance’s growth strategy and complements Reliance’s existing business by increasing our product breadth in specialty nonferrous products. We believe this acquisition will enable Admiral Metals to leverage Reliance’s scale in order to capitalize on further growth opportunities while maintaining its strong brand recognition.”
Earlier this month, Reliance acquired Nu-Tech Precision Metals, a custom manufacturer of specialty extruded metals, fabricated parts and welded components. Headquartered in Arnprior, near Ottawa, Ontario, Nu-Tech serves a wide variety of markets across North America, including the nuclear, aerospace and military markets. Nu-Tech’s broad product offering includes tube, pipe, engineered shapes, and round and flat bar from pure metals and alloys of titanium, zirconium, copper, nickel, hafnium, niobium and steel.
Nu-Tech reported annual sales of $44 million in 2020. Terms of that transaction also were not disclosed.
“Nu-Tech’s focus on specialty products with high levels of value-added processing aligns with our business model and strategy of investing in high-quality, high-margin businesses,” said Hoffman. “Nu-Tech has built a respected and established position in the key markets they serve through their proprietary processes and quality certifications. Further, Nu-Tech supports Reliance’s customer, product and geographical diversification strategy and increases our product breadth in specialty metals.”
Founded in 1939 and headquartered in Los Angeles, Reliance Steel & Aluminum Co. is a leading global diversified metal solutions provider and the largest metals service center company in North America. Through a network of approximately 300 locations in 40 states and 13 countries outside of the United States, Reliance 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.
By Tim Triplett, Tim@SteelMarketUpdate.com
Tim Triplett
Read more from Tim TriplettLatest in Service Centers
Ryerson swung to loss in ’24, but saw fortunes improve over the last month
Ryerson swung to a loss in the fourth quarter, but has seen a turnaround in the last 30 days.
Despite policy uncertainty, Reliance upbeat on ’25
Reliance noted that it is about 95% domestically sourced.
Russel Metals posts solid quarter, doesn’t expect direct impact from tariffs
Russel Metals said on Thursday that it doesn’t expect to be directly impacted by US tariffs on Canadian steel. The Mississauga, Ontario-based distributor made the comments in its quarterly earnings report on Thursday. The company doesn’t export significant volumes to the US, it said, and thus doesn’t expect to be directly impacted. However, “The primary […]
Friedman logs quarterly loss amid ‘challenging conditions’
Friedman swings to a loss in its fiscal third quarter of 2025.
Tampa Steel Conference: Service centers more upbeat about 2025
If 2021 and 2022 was the party, 2024 is the morning after, one panelist said.