Reliance Completes Acquisition of Ferguson Perforating
By Metal Center News Staff
on Oct 11, 2017
Reliance Steel & Aluminum Co., Los Angeles, has finalized its acquisition of perforated metal parts manufacturer Ferguson Perforating Company.
Ferguson specializes in producing highly engineered and complex perforated metal for a variety of end markets, including aerospace, automotive, industrial machinery, consumer electronics manufacturers and sugar producers. The company is headquartered in Providence, R.I., and operates an additional facility in New Castle, Pa.
“Ferguson fits solidly into our growth strategy of acquiring companies with high value-added processing capabilities and furthers our product diversification,” says Gregg Mollins, president and CEO of Reliance. “The company is a very well-respected perforator, and is known for its ability to provide highly customized and complex processing solutions.”
The current CEO of Ferguson, Bruce Ferguson, will retire once the transaction is closed, but the company’s existing management team will remain in place, according to Reliance. Additional terms of the transaction were not disclosed. In 2016, Ferguson saw net sales of approximately $31 million.
“Ferguson’s skills complement our existing perforator company, Diamond Manufacturing, and we look forward to the potential opportunities that may arise as a result of this acquisition,” Mollins adds. “We are very pleased to welcome Ferguson to the Reliance family of companies and to expand our presence in this important niche market.”