Service Centers
Reliance Extends Reach into Red Metals with Third Deal This Month
Written by Tim Triplett
December 21, 2021
Continuing its aggressive growth through acquisition, Reliance Steel & Aluminum Co. has purchased Rotax Metals, Inc., a metals service center specializing in copper, bronze and brass alloys. This is the third deal announced by Reliance just this month, extending its reach in various regions and product categories.
Founded in 1947 and located in Brooklyn, New York, Rotax services a diverse customer base including distributors, manufacturers and the commercial and residential construction markets. It emphasizes local customer relationships and next-day delivery.
For the 12 months ended July 31, 2021, annual net sales for Rotax totaled approximately $14 million. The terms of the transaction were not disclosed. Rotax will operate as a subsidiary of Yarde Metals, Inc., a wholly owned subsidiary of Reliance.
“Rotax’s acquisition supports Reliance’s product diversification strategy by expanding our portfolio of specialty bronze, brass and copper product offerings. By operating through our subsidiary Yarde Metals, a service center with 16 locations throughout the Northeast, we expect Rotax will benefit from Yarde’s relationships with mill suppliers and leverage its back-office services to streamline operations and promote continued growth,” Reliance CEO Jim Hoffman said.
Earlier this month, Reliance announced its purchases of Nu-Tech Precision Metals and Admiral Metals.
Headquartered in Los Angeles, Reliance is the largest metals service center company in North America with a network of approximately 300 locations in 40 states and 13 countries outside of the U.S.
By Tim Triplett, Tim@SteelMarketUpdate.com
Tim Triplett
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