Southern Steel is the longest-serving metals service center in Memphis, Tenn. The Company is a leading supplier of merchant and structural steel, steel sheet and plate, pipe and tube, ornamental products, saw cut and laser cut parts to customers in Memphis and the Mid-South. For more information visit http://www.southernsteelsupply.com.
Founded in 1939, Reliance Steel & Aluminum Co. (NYSE: RS) is a leading global diversified metal solutions provider and the largest metals service center company in North America. Southern Steel will operate as a subsidiary of Siskin Steel & Supply Company, Inc., a wholly-owned subsidiary of Reliance. For more information visit http://www.rsac.com.
Montrose Advisors was fortunate to work with a great family-owned business led by Neil Cohen and Michael Wexler, who built an enduring pillar of the Memphis-area industrial community on a foundation of customer service and integrity. In addition, Reliance was an ideal acquirer, recognizing the importance of continuity in the business and focusing on the important issues in a collaborative mindset. We are very happy for both parties and eager to see Southern Steel’s continued evolution.
Commenting on the transaction, Cohen and Wexler said, " It’s an exciting time for all of us at Southern Steel. Having the resources and expertise of Reliance and Siskin will allow Southern Steel to better serve our two greatest assets: our employees and our customers. These were our goals when we began this process with Dan Sullivan of Montrose Advisors. Dan spent a great deal of effort and time getting to know our business and our employees. His deep knowledge of our industry and his diligent process helped us find the best match for what the owners of Southern Steel were trying to accomplish. Dan has been great to work with in every aspect."
Montrose Advisors served as exclusive financial advisor to Southern Steel in this transaction. This transaction highlights our 20-year track record of advising clients in the metals processing and service center sectors through their most important transactions. Montrose Advisors' deep sector knowledge, longstanding relationships throughout the industry, and analytical skill helped ensure the success of this transaction.
If you would like more information about Montrose Advisors or our role in this transaction, please contact Dan Sullivan using the contact information below.