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Tubular Steel has Agreed to Be Acquired by Reliance Steel & Aluminum

Tuesday, December 15, 2015

Tubular Steel has Agreed to Be Acquired by Reliance Steel & Aluminum

William Blair acted as the exclusive financial advisor to Tubular Steel, Inc. (TSI) in connection with its sale to Reliance Steel & Aluminum Co. (NYSE: RS). The transaction was announced on December 1, 2015, and is expected to be completed in early 2016, subject to customary closing conditions.

Transaction Highlights

  • Deep sector knowledge: TSI was attracted to William Blair’s extensive knowledge and experience within the steel sector and the firm’s knowledge and strong relationships with key strategic buyers focused on this sector.
  • Execution excellence: William Blair’s transaction team was integrally involved in each step of the transaction process, closely collaborating with the family owners and management team to articulate the strategic value of TSI’s market position; William Blair designed a tailored, targeted market approach, helped coordinate a robust due diligence process, and successfully assisted in the negotiation of key transaction terms.
  • Highly strategic acquisition: The acquisition of TSI is highly strategic for Reliance Steel & Aluminum as it will further enhance Reliance's product breadth and supports its customer diversification strategy.

About the Companies

Tubular Steel, based in St. Louis, Missouri, is a family-owned distributor and processor of carbon, alloy and stainless steel pipe, tubing and bar products. Founded in 1953, TSI provides national coverage to its customers from its eight locations across the United States.

Reliance Steel & Aluminum Co., based in Los Angeles, California, is the largest metals service center company in North America. Through a network of more than 300 locations in 39 states and twelve countries outside of the United States, the company 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.