Reliance Acquires Tubular Steel
By
Metal Center News Staff on
Dec 9, 2015
Dec. 9, 2015 Reliance Acquires Tubular Steel North America’s largest service center company has resumed its growth through acquisition with a major service center purchase. Reliance Steel & Aluminum Co., Los Angeles, has reached an agreement to purchase all of the outstanding capital stock of Tubular Steel, Inc., St. Louis. Tubular Steel is a distributor and processor of carbon, alloy and stainless steel pipe, tubing and bar products. It provides national coverage to its customers from its eight locations across the United States. The addition of TSI, North America’s 47th-largest service center company in the most recent Metal Center News Top 50 survey, broadens Reliance's product breadth and supports its customer diversification strategy, company officials claim. During its most recent fiscal year, TSI’s net sales totaled $200 million. The transaction is expected to close in early 2016. Terms of the deal were not disclosed.