Reliance Steel & Aluminum Co. Acquires Cooksey Iron & Metal Co., Inc.
Reliance Steel & Aluminum Co., a distinguished metals service center, has triumphantly procured Cooksey Iron & Metal Co., Inc., a major Georgia-based company with a specialization in the processing and distribution of finished steel products. This move signifies an important scale-up for Reliance, boosting its influence in the Southeastern United States region.
A Calculated Move
Cooksey operations are housed in three facilities located in Georgia, Florida, Alabama, and South Carolina. These facilities provide services to diverse industries such as trailer manufacturing, metal building fabrication, and agricultural equipment production. As per our source’s data, Cooksey posted an exceptional annual net sales figure of around $90 million as of the conclusion of 2023. The procurement of Cooksey aligns perfectly with Reliance’s strategic objective of broadening its geographic reach and diversifying its customer base.
Cooksey Becomes Part of Metals USA
As per the acquisition terms, Cooksey will function under Metals USA, a wholly-owned subsidiary of Reliance. This setup echoes Reliance’s dedication to encouraging growth in Cooksey’s value-added processing capabilities, a step expected to not only fortify Cooksey but also enhance Reliance’s total market presence.
Steadfast Leadership
Even with the transition in ownership, Cooksey’s current management team will remain unaltered, ensuring an undisturbed continuity in operations and services. While the acquisition is substantial, it is designed to be a springboard for growth rather than a disruption to existing operations. As for the financial terms of the acquisition, they have yet to be disclosed.
The strategic procurement by Reliance Steel & Aluminum Co. underscores its dedication to reinforcing its position in the rapidly growing Southeastern market. At the same time, Cooksey is projected to benefit from Reliance’s wide-ranging industry experience and investment in its value-added processing capabilities.
