Davis Polk is advising Reliance Steel & Aluminum Co. in connection with its $1.2 billion acquisition of Metals USA Holdings Corp. The transaction is subject to approval by Metals USA stockholders, along with the receipt of regulatory clearances and the satisfaction of other customary closing conditions, and is expected to close in the second quarter of 2013.
Reliance Steel & Aluminum, headquartered in Los Angeles, California, is the largest metals service center company in North America. Metals USA provides a wide range of products and services in the heavy carbon steel, flat-rolled steel, non-ferrous metals and building products markets.
The Davis Polk corporate team includes partners Alan F. Denenberg and Martin A. Wellington and associates Stephen Salmon and Emily Roberts. Partner Rachel D. Kleinberg and associate Rachel Lerner are providing tax advice. Counsel Cynthia Akard is providing employee benefits advice. Partner Arthur J. Burke and counsel Stephen M. Pepper are providing antitrust and competition advice. Members of the Davis Polk team are based in the Menlo Park and New York offices.
