Reliance Steel & Aluminum Co. announced Tuesday that it has acquired all of the capital stock of Houston, Texas-based Fox Metals and Alloys, Inc., a steel distributor specializing in alloy, carbon and stainless steel bar and plate products, primarily servicing OEMs and machine shops who manufacture or support the manufacturing of equipment for the oil, gas and petrochemical industries.
Fox's in-house processing services include saw cutting, plate burning and testing. Net sales for Fox were approximately $50.5 million for the twelve months ended December 31, 2013.
Ronald Kimball, the former owner and Chief Executive Officer of Fox passed away in 2011 and his widow, Suzie Kimball, has served as Chief Executive Officer since that time. Fox will operate as a wholly-owned subsidiary of Reliance Steel & Aluminum Co. Additional terms were not disclosed.
"The acquisition of this high quality, customer service-focused company further expands our presence in the oil and gas arena, an attractive and growing market for us," said David H. Hannah, Chairman and CEO of Reliance.