Reliance Steel & Aluminum To Acquire Fry Steel Co. - Quick Facts

(RTTNews) - Reliance Steel & Aluminum Co. (RS) said Tuesday it has agreed to purchase all of the outstanding capital stock of Fry Steel Co., a general line and long bar distributor located in Santa Fe Springs, California. Financial terms of the transaction were not disclosed.

Los Angeles, California-based Reliance Steel noted that the acquisition fits within its strategy of acquiring high-margin businesses focused on specialty products. The acquisition also supports its customer and product diversification strategy.

founded in 1948, Fry Steel is family-owned for nearly 50 years. The company provides "in-stock" next day delivery through its proprietary fleet of trucks.

Fry Steel performs cutting services on its diverse product assortment of over 8,000 types and conditions of long bar product including stainless, alloy, aluminum, carbon, brass and bronze.

Reliance Steel expects the transaction to close in early 2020.