Reliance, Inc. announces that it has acquired all the outstanding equity interests of Mid-West Materials, Inc. (“MidWest Materials”), a premier flat-rolled steel service center primarily servicing North American OEMs. Headquartered in Perry, OH and founded in 1952, MidWest Materials provides a wide breadth of steel products including hot-rolled, high strength hot-rolled, coated, and cold-rolled products that are sold into the trailer manufacturing, agriculture, metal fabrication, and building products markets. The current management team will remain in place. For the twelve months ended December 31, 2023, annual net sales for MidWest Materials were approximately $87 million. The terms of the transaction were not disclosed.
“The Reliance family is thrilled to welcome MidWest Materials,” commented Karla Lewis, President and Chief Executive Officer of Reliance. “The addition of MidWest Materials increases our flat-rolled presence in the critical markets in and around Ohio which primarily service North American OEMs. MidWest Materials aligns well with our acquisition criteria of a well-run company that is immediately accretive to our earnings and expands our offerings to customers with modern, high-performance processing capabilities. MidWest Materials' emphasis on superior customer service and its strong reputation for quality products strongly correlates with the Reliance model. MidWest Materials will benefit from our scale as well as access to capital for investments in value-added processing capabilities and the knowledge base and breadth of expertise throughout our extensive family of companies.”
