Reliance Steel to Buy Encore Group
Reliance Steel & Aluminum Co. has agreed to acquire the Encore Group of metals service center companies (Encore Metals, Encore Metals (USA), Inc., Encore Coils, and Team Tube) headquartered in Edmonton, Alberta, Canada.
Encore was organized in 2004 in connection with the buyout by management and a private equity fund managed by HSBC Capital (Canada) Inc. of certain former Corus CIC and Corus America businesses. Encore specializes in the processing and distribution of alloy and carbon bar and tube, as well as stainless steel sheet, plate and bar and carbon steel flat-rolled products, through its 17 facilities located mainly in Western Canada.
Encore's sales for the 12 months ended Dec. 31, 2005, were C$254.8 million.
Reliance Steel & Aluminum Co., ...