SILVERWOOD PARTNERS ADVISES DYNAMIC METALS INTERNATIONAL LLC IN SALE OF BUSINESS TO RELIANCE STEEL & ALUMINUM CO. (NYSE: RS)SHERBORN, MA – April 1, 2008
Dynamic Metals International LLC (“Dynamic Metals”),a Bristol, Connecticut-based distributor of specialty alloys, has been acquired by Reliance Steel & Aluminum Co. (NYSE: RS). Dynamic Metals was founded in 1999 with 2007 revenues of approximately $11 million. Dynamic Metals will operate initially as a subsidiary of Service Steel Aerospace Corp. headquartered in Tacoma, WA. Silverwood Partners was the exclusive financial advisor to Dynamic Metals.
“This strategic acquisition expands our existing Service Steel Aerospace specialty product offerings,” said David H. Hannah, Chairman and Chief Executive Officer of Reliance.
About Dynamic Metals International
Dynamic Metals International, LLC is one of the leading stocking distributors of Maraging (Vascomax®) steel in the U.S. with international distribution to Canada, Europe and Australia. Through its network of mill suppliers, Dynamic Metals is able to accommodate a variety of orders and requests for Alloy Steels, Nickel Alloys, Stainless Steels, Titanium, and Aluminum. For more information, please visit www.maraging.com
About Reliance Steel & Aluminum Co.
Reliance Steel & Aluminum Co., headquartered in Los Angeles, California, is one of the largest
metals service center companies in the United States. Through a network of more than 180 locations in 37 states and Belgium, Canada, China, South Korea and the United Kingdom, the Company provides value-added metals processing services and distributes a full line of over 100,000 metal products. These products include galvanized, hot-rolled and cold-finished steel; stainless steel; aluminum; brass; copper; titanium and alloy steel sold to more than 125,000 customers in various industries. For more information, please visit www.rsac.com.
About Silverwood Partners
Silverwood Partners is a specialized investment bank that provides mergers & acquisitions and private placement advisory services to information technology, communications technology, consumer products, business services and healthcare companies. For additional information, please visit www.silverwoodpartners.com.
This release may include forward-looking statements, as defined by the Private Securities Litigation Reform Act of 1995, about the future performance of one or more public companies. There are a number of factors that could cause actual events or results to differ materially from those indicated by such forward-looking statements, such as the competitive market in which any company operates, market acceptance of a public company’s existing and new products, a public company's ability to anticipate customer needs and the other factors set forth under the caption “Certain Factors That May Affect Future Results,” or similar, in a public company’s filings with the Securities and Exchange Commission or other similar regulatory agencies in non-U.S. jurisdictions. In addition, any forward-looking statements contained herein represent an estimate only as of the date of such statement and should not be relied upon as representing an estimate as of any subsequent date.