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.
Reliance Steel & Aluminum Co.
Kim P. Feazle
Investor
Relations
(713) 610-9937
(213) 576-2428
kfeazle@rsac.com
investor@rsac.com
Source: Reliance Steel & Aluminum Co.