Reliance Steel & Aluminum has reached an agreement to purchase all of the outstanding capital stock of Tubular Steel, Inc., a distributor of carbon, alloy and stainless steel pipe, tubing and bar products.
Tubular Steel is headquartered in St. Louis, Missouri and has eight service center locations across the U.S. TSI net sales for 2014 were approximately $200 million. The acquisition will broaden Reliance’s product offering and support the company’s diversification strategy.
Terms of the purchase were not disclosed. The transaction is expected to close in early 2016.
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