Reliance Steel Makes Texas AcquisitionWednesday, April 4, 2012
Reliance Steel & Aluminum Co. on Wednesday said it has acquired National Specialty Alloys LLC for an undisclosed amount.
NSA is a Houston processer and distributor of specialty alloy, premium stainless steel and nickel alloy bars and other products. It was owned by consortium of investors led by Post Oak Energy Capital LP of Houston. NSA was founded in 1985 and has operations in Anaheim; Buford, Ga. and Tulsa, Okla. Net sales for the 12 months ended Oct. 31 were $96 million.
Reliance Steel, a Los Angeles metals processor, said NSA will operate as a wholly-owned subsidiary under its current management. Financial terms of deal were not disclosed.
"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," Chief Executive David Hannah said in a statement.
Shares were down 96 cents, or 1.7 percent, to $54.94 in midday trading on the New York Stock Exchange.