June 20, 2007

Reliance Steel Agrees to Buy Clayton Metals

Finance, Free, Mergers & Acquisitions, Metals Service Centers, News, Subscriber Only, Top Distributor Sectors / MDM Staff

Reliance Steel & Aluminum Co., Los Angeles, CA, has agreed to acquire Clayton Metals, Inc., Wood Dale, IL.
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Clayton Metals specializes primarily in the processing and distribution of aluminum, stainless steel and red metal flat-rolled products, custom extrusions and aluminum circles through its metals service center locations in Wood Dale, IL; Cerritos, CA; High Point, NC and Parsippany, NJ.
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Clayton Metal’s sales for the 12 months ended Dec. 31, 2006, were about $123 million. Current management is expected to remain in place.
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Reliance Steel & Aluminum Co. is one of the largest metals service center companies in the U.S. Through a network of more than 180 locations in 37 states and Belgium, Canada, China and South Korea, the company …

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Home Depot: Selling Supply Not an Easy Decision

Companies, Finance, Free, Mergers & Acquisitions, News, Subscriber Only / MDM Staff

Home Depot CEO Frank Blake said Wednesday that selling HD Supply in pieces would have been&nbsp ; time-consuming and&nbsp ; distracting, with an added cost of separating the businesses. An IPO would have resulted in a multiple discount relative to the sale of the entire business.
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This was not an easy decision,” Blake said about the announcement Tuesday that Home Depot would sell its $12 billion wholesale division in its entirety for $10.3 billion to a group of three private equity firms. “(HD Supply chief) Joe DeAngelo and his team have built a world-class operation over the last few years. We gave careful consideration to a number of options, including holding onto the business.”
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The three private equity firms buying HD Supply for roughly 10X-12X EBITDA are …

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Takeaways from the $10B HD Supply Deal

Companies, Finance, Free, Mergers & Acquisitions, Subscriber Only / Lindsay Young

Home Depot’s announcement that it is selling its wholesale division HD Supply for $10.3 billion to a trio of private equity firms -Bain Capital, Carlyle Group and Clayton Dubilier & Rice -is hardly a surprise, given the media coverage that led up to it. Though we don’t know all the details yet, there are already a few takeaways from the news:
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1. As Grainger President and COO Jim Ryan said in mid-May (Grainger: Consolidation is Changing Marketplace), just because HD Supply has been been sold does not mean that it disappears as a player in the market. Still, HD Supply’s new owners will have the same …

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June 20, 2007

Reliance Steel Agrees to Buy Clayton Metals

Home Depot: Selling Supply Not an Easy Decision

Takeaways from the $10B HD Supply Deal

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