Reliance Steel & Aluminum Co. acquired all of the capital stock of Fox Metals and Alloys (Fox), a steel distributor specialising in alloy, carbon and stainless steel bar and plate products, primarily servicing OEMs and machine shops that manufacture or support the manufacturing of equipment for the oil, gas and petrochemical industries.
Fox, located in Houston, Texas, began operations in 1985. Fox’s in-house processing services include saw cutting, plate burning and testing. Net sales for Fox were approximately USD 50.5M for the twelve months ended 31 December 2013. Ronald Kimball, the former owner and CEO of Fox passed away in 2011 and his widow, Suzie Kimball, has served as CEO 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.