Reliance Steel & Aluminum Co. agrees to acquire Continental Alloys & Services Inc.
Reliance Steel & Aluminum Co. has announced that it has reached an agreement to purchase all of the outstanding capital securities of Continental Alloys & Services, Inc., headquartered in Houston, and certain affiliated companies. Continental, a global materials management company focused on high-end steel and alloy pipe, tube and bar products, and precision manufacturing of various tools designed for well completion programs of global energy service companies, has 12 locations in seven countries including the United States, Canada, United Kingdom, Singapore, Malaysia, Dubai and Mexico.
The transaction is expected to be finalized within 30 days, subject to customary closing conditions. Terms were not disclosed.