Reliance Steel & Aluminum Acquires Continental Alloys & Services for $415M

Reliance Steel & Aluminum Co. RS announced today that it has completed the acquisition of all the outstanding capital securities of Continental Alloys & Services, Inc., and certain affiliated companies, for a transaction value of $415 million, subject to certain adjustments. Other terms were not disclosed. Continental, headquartered in Houston, Texas, and its affiliates combined comprise a leading global materials management company focused on high-end steel and alloy pipe, tube and bar products and precision manufacturing of various tools designed for well completion programs of global energy service companies and has 12 locations in seven countries including the United States, Canada, United Kingdom, Singapore, Malaysia, Dubai and Mexico.