Reliance Steel & Aluminum to Acquire Metals USA
Reliance Steel & Aluminum Co. and Metals USA Holdings Corp. announced a definitive merger agreement whereby Reliance will acquire all outstanding shares of Metals USA for approximately $1.2 billion. The transaction is expected to close in the second quarter of 2013. Reliance plans to operate Metals USA, and its 48 service centers, under its current brand names. Reliance, with a network of more than 220 locations, is the largest metals service center company in North America. Metals USA provides a wide range of products and services in the heavy carbon steel, flat-rolled steel, nonferrous metals and building products markets.