Los Angeles-based Reliance Steel & Aluminum Co. continued its torrid acquisition pace with the purchase of Yarde Metals Inc., the company said.
The Southington, Conn. metal service center processes and distributes stainless-steel and aluminum-plate products and did about $385 million in business last year, Reliance said. The acquisition is the latest of more than 30 companies Reliance has added to its roster in the last 10 years.
Financial terms of the deal were not disclosed.
The deal comes on the heels of increasing demand for domestically produced steel from surging energy prices and according to Reliance, one of the largest domestic steel distributors in North America, Yarde's strong presence on the East Coast and its diverse product offering are in line with Reliance's acquisition strategy, given.
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