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Reliance Completes Acquisition of Clayton Metals
07/04/2007 - Reliance Steel & Aluminum completes its purchase of the outstanding capital stock of Wood Dale, Ill., based Clayton Metals, Inc.
Reliance Steel & Aluminum Co. has completed its purchase of the outstanding capital stock of Clayton Metals, Inc., headquartered in Wood Dale, Ill. Terms of the deal were not disclosed.
Clayton Metals will operate as a wholly owned subsidiary of Reliance with Donald W. Madl serving as President and Chief Operating Officer.
“The addition of Clayton Metals to our Reliance family provides further diversification of our business that brings new products and customers in important geographic areas. Clayton Metals has an excellent management team in place and we look forward to their continued growth and success,” said David H. Hannah, CEO of Reliance.
Founded in 1976, Clayton Metals specializes primarily in the processing and distribution of aluminum, stainless steel, and red metal flat-rolled products, custom extrusions and aluminum circles through its metals service center locations in Wood Dale, Ill.; Cerritos, Calif.; High Point, N.C.; and Parsippany, N.J. The company’s net sales for the twelve months ended December 31, 2006 were about $123 million.
Headquartered in Los Angeles, Calif., Reliance Steel & Aluminum is one of the largest metals service center companies in the United States. Through a network of more than 180 locations in 37 states and Belgium, Canada, China and South Korea, the company provides value-added metals-processing services and distributes a full line of over 100,000 metal products. Products include galvanized, hot-rolled and cold-finished steel; stainless steel; aluminum; brass; copper; titanium and alloy steel sold to more than 125,000 customers in various industries.
The company was named to the 2007 Fortune 500 List, the Fortune 100 Fastest Growing Companies List, and the 2007 List of America’s Most Admired Companies by Fortune, and the 2007 Forbes Platinum 400 List of America’s Best Big Companies.
