distributor Reliance Steel & Aluminum Co. continues to grow
with the acquisition of National Specialty Alloys LLC (NSA), a
specialty alloy processor and distributor of stainless steel
and nickel alloy bars and shapes.
NSA will operate as a wholly
owned subsidiary of Reliance with current management remaining
in place, including Mark Russ as president. Headquartered in
Houston, NSA also has branches in Anaheim, Calif., Buford, Ga.,
and Tulsa, Okla.
NSA, which has annual sales of
about $96 million, was sold to Reliance by a consortium of
investment firms. The terms of the deal were not disclosed.
The acquisition bolsters
Reliances product offerings with specialty stainless
steel and nickel products and expands and complements its
exposure to the energy industry, the Los Angeles-based company
NSA has a "particular emphasis
on horizontal drilling and completion tools, pumps and valves
used in the drilling and production of oil and gas," Reliance
chairman and chief executive officer David H. Hannah said in a
statement. NSA also serves the petrochemical, power generation,
water and waste treatment, pulp and paper, marine equipment,
military and defense, aerospace and other industrial machinery
Last week, a subsidiary of
Reliance signed a deal to purchase a flat-rolled steel
processing plant (AMM, March 27). Pending due
diligence, Precision Strip Inc. is expected to complete the
purchase of the assets of Worthington Steels Vonore,
Tenn., plant, within 30 days.