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  6. Reliance Acquires FerrouSouth - Tolling Assets

Divestiture • Metals/Mining

Reliance Acquires FerrouSouth - Tolling Assets

On July 15, 2024, Reliance acquired metals/mining company FerrouSouth - Tolling Assets from Ferragon

Acquisition Context
  • This is Reliance’s 16th transaction in the Metals/Mining sector.
  • This is Reliance’s 23rd transaction in the United States.
  • This is Reliance’s 2nd transaction in Ohio.

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M&A Deal Summary
Date July 15, 2024
Target FerrouSouth - Tolling Assets
Sector Metals/Mining
Buyer(s) Reliance
Sellers(s) Ferragon
Deal Type Divestiture

Target Company

FerrouSouth - Tolling Assets

Cleveland, Ohio, United States
FerrouSouth's Tolling Assets help expand toll processing capabilities and provide additional capacity. FerrouSouth's Tolling Assets is based in Cleveland, Ohio.
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Buyer Overview 1

Buyer

Reliance

Scottsdale, Arizona, United States
Category Company
Founded 1939
Sector Metals/Mining
Employees15,900
Revenue 13.8B USD (2024)
DESCRIPTION

Reliance is a metals service center company. Reliance's network of metals service centers operates more than 300 locations across the US and internationally. Through this network, Reliance provides metals processing services and distributes a full line of more than 100,000 metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium and specialty steel products. Reliance was founded in 1939 and is based in Scottsdale, Arizona.

Deal Context for Buyer #
Overall 25 of 25
Sector: Metals/Mining 16 of 16
Type: Divestiture 2 of 2
State: Ohio 2 of 2
Country: United States 23 of 23
Year: 2024 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-02 MidWest Materials

Perry, Ohio, United States

MidWest Materials is a premier flat-rolled steel service center for North American original equipment manufacturers. MidWest Materials was founded in 1952 and is based in Perry, Ohio.

Buy -

Seller Profile 1

SELLER

Ferragon

Cleveland, Ohio, United States
Category Company
Founded 1983
Sector Metals/Mining
DESCRIPTION

Ferragon Corp. provides flat rolled steel products.

Deal Context for Seller #
Overall 1 of 1
Sector: Metals/Mining 1 of 1
Type: Divestiture 1 of 1
State: Ohio 1 of 1
Country: United States 1 of 1
Year: 2024 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-24 Steel Rolling Holdings

Rockwood, Michigan, United States

Steel Rolling Holdings providing batch annealing, temper rolling, and tandem mill cold rolling for automotive-grade steels and the Ferrolux Metals - Wayne Plant offering slitting and inspection of cold-rolled sheets for exposed automotive applications.

Buy -

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