Reliance, Inc. Concluded Acquisition of American Alloy Steel, Inc.

The acquisition is in alignment with Reliance’s strategy of acquiring immediately accretive companies with strong management teams.

SEATTLE (Scrap Monster): Reliance, Inc. - the diversified metal solutions provider and the largest metals service center company in North America announced that it has completed acquisition of all of the outstanding equity interests and related real estate assets of Houston, Texas-headquartered American Alloy Steel, Inc. The acquisition is in effect from 1^st April, 2024, the company press release noted.

Founded in 1971, American Alloy Steel, Inc. is a leading distributor of specialty carbon and alloy steel plate and round bar. The acquisition of the company will significantly boost Reliance’s value-added processing and fabrication capabilities. In addition, it will also lead to expansion of its specialty carbon steel plate product portfolio.

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The acquisition is in alignment with Reliance’s strategy of acquiring immediately accretive companies with strong management teams. The current American Alloy Steel, Inc. will be retained. Meantime, the financial details of the transaction were not disclosed. It must be noted that American Alloy Steel, Inc. had reported net sales of approximately $310 million during the previous year.

Prior to this, the company had acquired all the outstanding equity interests of Mid-West Materials, Inc. - a Perry, OH-based premier flat-rolled steel service center.

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