Reliance Steel Completes Acquisition of Northern Illinois Steel Supply Co.
08/07/2014 - Reliance Steel & Aluminum Co. has acquired all of the capital stock of Northern Illinois Steel Supply Co. (NIS), a value-added distributor and fabricator of a variety of steel and non-ferrous metal products, primarily structural steel components and parts, located in Channahon, Ill.
Founded in 1961, NIS focuses on customers that require extensive fabrication services and/or critical delivery timelines with a large concentration in the energy and petrochemical sectors. Net sales for NIS were approximately US$20.3 million for the twelve months ended 31 December 2013. NIS will operate as a wholly-owned subsidiary of Reliance Steel & Aluminum Co. Current management will remain in place. Additional terms were not disclosed.
"NIS has a unique business model, combining traditional metal distribution capabilities with extensive in-house fabrication services, often on an emergency basis. This acquisition complements our growth strategy of adding companies that offer higher value-add services," said David H. Hannah, chairman and CEO of Reliance.
Reliance Steel & Aluminum Co., headquartered in Los Angeles, Calif., is the largest metals service center company in North America. Through a network of more than 290 locations in 39 states and eleven countries outside of the United States, Reliance provides value-added metals processing services and distributes a full line of over 100,000 metal products to more than 125,000 customers in a broad range of industries.
"NIS has a unique business model, combining traditional metal distribution capabilities with extensive in-house fabrication services, often on an emergency basis. This acquisition complements our growth strategy of adding companies that offer higher value-add services," said David H. Hannah, chairman and CEO of Reliance.
Reliance Steel & Aluminum Co., headquartered in Los Angeles, Calif., is the largest metals service center company in North America. Through a network of more than 290 locations in 39 states and eleven countries outside of the United States, Reliance provides value-added metals processing services and distributes a full line of over 100,000 metal products to more than 125,000 customers in a broad range of industries.
