Reliance Steel & Aluminum Co. (“Reliance”) completed its acquisition of all the securities of Continental Alloys & Services, Inc. and certain affiliated entities (“Continental”). Reliance acquired Continental from EdgeStone Capital Partners and its co-investors (“EdgeStone”) and Continental management, for a purchase price of approximately US$415 million, subject to certain adjustments.
Other terms of the transaction were not publicly disclosed.
Houston, Texas-based Continental and its affiliates combined comprise a leading global materials management compa-ny focused on high-end steel and alloy pipe, tube and bar products and precision manufacturing of various tools designed for well completion programs of global energy service companies and has 12 locations in seven countries.
Reliance's legal team was led by Kay Rustand, Vice President and General Counsel, and Tricia Emmerman, Associate General Counsel.
Andrews Kurth LLP acted for Continental with a team that included Ken Miller, Angel Hall, Natalie Kurz, Christopher Griffith, Alex White, Lisa Shelton, Alison Chen and Jocelyn Tau.
Davies Ward Phillips & Vineberg LLP acted for EdgeStone with a team that included Cameron Rusaw, Ian Crosbie, Duncan Osborne and Richard Elliott.
CPP Investment Board Private Holdings Inc. was represented by Darren Baccus and Jamie Beal of Torys LLP.
Paribas North America, Inc. was represented by James Kelly and David Odrich of Pillsbury Winthrop Shaw Pittman LLP.
The management owners were represented by James Howard, Mike Peters and Mark Miller of Locke Lord LLP.