In a strategic move to enhance its value-added processing and fabrication capabilities and expand its specialty carbon steel plate product offerings, Reliance, Inc. has acquired American Alloy Steel, a specialty steel distributor based in Houston, Texas. The acquisition is expected to be immediately accretive to Reliance's operations. American Alloy Steel reported annual net sales of approximately $310 million for the year ending December 31, 2023. The existing management team of American Alloy will continue to lead the company. Reliance, headquartered in Scottsdale, Arizona, operates as the largest metals service center company in North America with a network of over 315 locations across 40 states and 12 countries [ee2605cf].
This acquisition aligns with Reliance's goal of expanding its portfolio and strengthening its position in the steel industry. By acquiring American Alloy Steel, Reliance aims to enhance its capabilities and offerings, further establishing itself as a leader in the market.