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Oct. 17, 2012
Reliance Acquires Sunbelt Steel
Reliance Steel & Aluminum Co., Los Angeles, has acquired the assets of Sunbelt Steel Texas LLC. Sunbelt is a value-add distributor of special alloy steel bar and heavy-wall tubing products to the oil and gas industry.
Sunbelt is headquartered in Houston, with an additional facility in Lafayette, La. It had net sales of $48 million in 2011. It offers in-house processing services such as deep-hole drilling, straightening and saw cutting, plus the ability to manufacture heavy-wall tube from solid bar.
Sunbelt will operate as a wholly owned subsidiary of Reliance Steel & Aluminum Co. Michael Kowalski will remain president of the company after completion of the transaction.
"We are excited to add Sunbelt Steel Texas to the Reliance family of companies. Sunbelt increases our growing exposure to the energy market in high-end, niche products serving customers across multiple oil and gas well drilling types, including vertical, horizontal, directional, and deepwater drilling applications," says David Hannah, chairman and CEO of Reliance.
The acquisition is the second in two months for North America’s largest service center company, following Reliance’s September purchase of GH Metal.
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2013 Directory of Master Distributors
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The Metal Center News Directory of Master Distributors—distributors who sell to other distributors—is an invaluable tool for service centers seeking new sources for special or hard-to-find products. Master distributors play an important role in the marketplace, giving service centers an alternative to buying in mill quantities and helping to remove redundant and excess inventories from the distribution channel.
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