RS - Reliance Inc. Acquires Mid-West Materials Inc. | Benzinga
SCOTTSDALE, Ariz., April 02, 2024 (GLOBE NEWSWIRE) -- Reliance, Inc. (NYSE:RS) announced that it has acquired all the outstanding equity interests of Mid-West Materials, Inc. ("MidWest Materials"), a premier flat-rolled steel service center primarily servicing North American OEMs. Headquartered in Perry, OH and founded in 1952, MidWest Materials provides a wide breadth of steel products including hot-rolled, high strength hot-rolled, coated, and cold-rolled products that are sold into the trailer manufacturing, agriculture, metal fabrication, and building products markets. The current management team will remain in place. For the twelve months ended December 31, 2023, annual net sales for MidWest Materials were approximately $87 million. The terms of the transaction were not disclosed.
"The Reliance family is thrilled to welcome MidWest Materials," commented Karla Lewis, President and Chief Executive Officer of Reliance. "The addition of MidWest Materials increases our flat-rolled presence in the critical markets in and around Ohio which primarily service North American OEMs. MidWest Materials aligns well ...