Reliance Steel & Aluminum Co. Acquires Cooksey Iron & Metal Co., Inc.

Feb 02, 2024•over 1 year ago

Acquiring Company

Reliance Steel & Aluminum

Acquired Company

Cooksey Iron & Metal

Scottsdale

TiftonMiningPrecious MetalsMiningManufacturing

Description

Reliance Steel & Aluminum Co. has acquired all the outstanding equity interests of Cooksey Iron & Metal Co., Inc. This acquisition strengthens and expands Reliance's position in the fast-growing Southeastern market where Cooksey is well-known for its premium customer service, quality products, and rapid delivery standards. Cooksey will operate as a subsidiary of Metals USA, a wholly owned subsidiary of Reliance.

Company Information

Company

Reliance Steel & Aluminum

Location

Scottsdale, Arizona, United States

About

Reliance Steel & Aluminum Co. is a leading global diversified metal solutions provider and the largest metals service center company in North America. It was founded in 1939 and operates through a network of more than 315 locations in 40 states and 12 countries outside of the United States. Reliance focuses on small orders with quick turnaround and value-added processing services. In 2022, Reliance’s average order size was $3,670, approximately 50% of orders included value-added processing and approximately 40% of orders were delivered within 24 hours.

M&A Insights

Based on deal data

Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

Success factor

M&A deals with strong technology integration plans are 2.5x more likely to succeed