Montrose Advisors is pleased to announce the closing of American Alloy Steel's sale to Reliance, Inc.

Montrose Advisors is pleased to announce the closing of American Alloy Steel's sale to Reliance, Inc.

American Alloy Steel is one of the premier suppliers of specialty carbon and alloy steel plate and round bar in the US. Founded in 1971, American Alloy carries the deepest and broadest steel plate inventory in the industry from its seven facilities, and provides specialty grades, precision burned parts, and fabricated cylinders. For more information visit https://www.aasteel.com/.

Founded in 1939, Reliance, Inc. (NYSE: RS) is a leading global diversified metal solutions provider and the largest metals service center company in North America. American Alloy represents Reliance's 75th acquisition since 1994. For more information visit https://reliance.com/.

Montrose Advisors was fortunate to work with a great family-owned business founded by Art Moore, a World War II combat veteran and industry visionary who identified the market need for a specialty plate service center over 50 years ago. Mr. Moore and his family built American Alloy into the go-to supplier for customers in every state and 40+ countries around the world.Unfortunately, Mr. Moore passed away soon after the transaction was complete, but he was able to see his legacy continue forward with the next two generations of his family running American Alloy under Reliance's ownership. Reliance is an ideal acquirer, and its reputation for helping companies improve while leaving local business leaders free to run the successful businesses they've built was a key factor in this transaction.

Commenting on the transaction, Pat Moore, American Alloy's President, said, "You only get one opportunity to transition your life's work to a new home, and choosing Dan Sullivan to help us sell our family's specialty steel distribution and fabrication company was the right decision. Dan knows all the players and understands the industry; he was attentive, sensitive, and a true professional. The entire Moore family enjoyed working with Dan and strongly recommends him and Montrose Advisors as the investment banker for all things steel."

Montrose Advisors served as exclusive financial advisor to American Alloy 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.