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Reliance to Acquire Clayton Metals
06/21/2007 - Reliance Steel & Aluminum will acquire the outstanding capital stock of Wood Dale, Ill., based Clayton Metals, processor and distributor of aluminum, stainless steel, and red metal flat-rolled products, custom extrusions and aluminum circles.
Reliance Steel & Aluminum Co. has reached an agreement to acquire the outstanding capital stock of Clayton Metals, Inc., headquartered in Wood Dale, Ill. Terms of the deal were not disclosed.
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. Reliance noted that current Clayton management is expected to remain in place.
Clayton Metals conducts its distribution through its metals service center locations in Wood Dale, Ill.; Cerritos, Calif.; High Point, N.C.; and Parsippany, N.J. Clayton Metal’s net sales for the twelve months ended December 31, 2006 were about $123 million.
The transaction is expected to be finalized within the next 30 days, subject to the completion of due diligence.
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 and the Fortune 100 Fastest Growing Companies List and the 2007 Forbes Platinum 400 List of America’s Best Big Companies.
