Service Centers
Reliance scoops up American Alloy Steel
Written by Laura Miller
February 14, 2024
Reliance Steel & Aluminum Co. is adding a specialty plate and round bar distributor to its ever-growing portfolio.
Reliance has entered into an agreement to purchase Houston-based American Alloy Steel Inc. for an undisclosed sum, the service center behemoth said on Wednesday. The deal is expected to close within 60 days.
American Alloy tapped Montrose Advisors as its exclusive financial advisor for the deal.
American Alloy’s net sales were approximately $310 million in 2023. It operates five service centers and a plate fabrication business in the US and a joint venture company in Canada. It sells to customers located across North America, including Mexico.
“American Alloy adds specialty carbon steel plate to Reliance’s product portfolio as well as new fabrication capabilities. We look forward to continuing to grow the American Alloy business, especially in value-added processing,” Reliance President and CEO Karla Lewis said in a statement.
“We at American Alloy are excited for our new future with Reliance Steel,” commented Art Moore, American Alloy’s founder and chairman.
“Reliance’s resources and expertise will help American Alloy expand and increase our value proposition to our customers and provide new challenges and opportunities for our outstanding and loyal employees, who have provided the foundation for our success over the past 53 years,” Moore added.
This marks Reliance’s second acquisition of 2024. Earlier this month, it acquired Georgia-based Cooksey Iron & Metal Co.
Scottsdale, Ariz.-based Reliance is North America’s largest metals service center company. It operates more than 315 locations in 40 states and 13 countries.
Laura Miller
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