Downtown-based Reliance Steel & Aluminum Co. announced Aug. 1 the acquisition of sheet metal fabrication companies, KMS Fab and KMS South Inc. Terms of the deal were undisclosed.
KMS Fab is based in Luzerne, Pa., and KMS South Inc. is in West Columbia, S.C. For the fiscal year ended Dec. 31, 2017, the KMS companies’ combined net sales were $23.3 million, according to a press release.
“Our acquisition of the KMS Companies fits well with our growth strategy of acquiring and investing in businesses that perform high levels of value-added processing,” Gregg Mollins, chief executive of Reliance said in a statement.
This marks Reliance’s second acquisition this year after its March 1 purchase of DuBose National Energy Services Inc. and its affiliate DuBose National Energy Fasteners & Machined Parts Inc., both of Cleveland, Ohio. Terms of that deal were undisclosed as well.
Reliance, a metals distributor has 300 locations in 40 U.S. states and 13 other countries, according to its website. Its market cap is $6.5 billion.
Manufacturing, retail and trade reporter Shwanika Narayan can be reached at firstname.lastname@example.org or 323-556-8351. Follow her on Twitter @shwanika.