Reliance Steel Adds National Specialty Alloys To Its Portfolio

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Sellers
Buyers
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Description

Purchased global specialty alloy processor and distributor with emphasis on horizontal drilling and completion tools, pumps and valves used in the drilling and production of oil and gas.

Reliance Steel & Aluminum Co., Los Angeles, (NYSE: RS) has acquired National Specialty Alloys LLC from Houston-based private-investment firm Post Oak Energy Capital LP, acting in partnership with Chesapeake Investments LLC, Solar Capital Ltd., CarVal Investors, LLC and LRC Speciality LLC for an undisclosed price.

Houston-based National Specialty is a global specialty alloy processor and distributor for premium stainless steel and nickel alloy bars and shapes. National Specialty’s primary end market is the energy market with particular emphasis on horizontal drilling and completion tools, pumps and valves used in the drilling and production of oil and gas.

Reliance Steel is the largest metals service center company in North America.

A consortium of investors led by Post Oak acquired National Specialty in August 2007 and Mark Russ was appointed president and chief executive in conjunction with this acquisition.

Moelis & Company LLC was exclusive financial advisor to National Specialty and the consortium of investors.