From Illinois Business Journal news services
St. Louis-based Tubular Steel Inc., whose Illinois operations include a service center in Staunton, is being acquired by Los Angeles-based Reliance Steel & Aluminum Co.
Reliance announced this week that it has reached an agreement to purchase all of the outstanding capital stock of Tubular Steel,which is a distributor and processor of carbon, alloy and stainless steel pipe, tubing and bar products. Founded in 1953, Tubular provides national coverage to its customers from sales and service locations across the United States.
For the year ended Dec. 31, 2014, Tubular’s net sales were approximately $200 million. The transaction is expected to close in early 2016, subject to regulatory approval and customary closing conditions. The terms of the transaction were not disclosed.
About Reliance Steel & Aluminum Co.
Reliance Steel & Aluminum Co. is the largest metals service center company in North America. Through a network of more than 300 locations in 39 states and 12 countries outside of the United States, the Company provides value-added metals processing services and distributes a full line of more than 100,000 metal products to more than 125,000 customers in a broad range of industries. Its website is www.rsac.com.