Reliance Steel & Aluminum to acquire Metals USA Holdings
Metals service center Reliance Steel & Aluminum Co., Los Angeles, has announced plans to acquire Metals USA Holdings Corp., Fort Lauderdale, Fla., a provider of products and services in the heavy carbon steel, flat-rolled steel, nonferrous metals, and building products markets. The transaction is expected to close in the second quarter of 2013.
David H. Hannah, chairman and CEO of Reliance, will continue as chairman and CEO of the combined company. Lourenco Goncalves, chairman, president, and CEO of Metals USA, will retire upon closing of the transaction.
Reliance plans to operate Metals USA under its current brand names, retaining Metals USA's brand equity while allowing the combined organization to capitalize on the resources, capabilities, and practices of each entity.