Sunbelt Steel Texas, a portfolio company of Freestone Partners, was acquired by Reliance Steel & Aluminum Co. (NYSE: RS). Quarton Partners acted as the exclusive financial advisor to Sunbelt Steel and Freestone Partners.
Sunbelt Steel, headquartered in Houston, Texas, is one of the premier value added distributors of specialty alloy steel bar and heavy-wall tubing products to the oil and gas industry. Sunbelt was founded in 1986 and has an additional location in Lafayette, Louisiana as well as a sales presence in Salt Lake City, Utah, Dallas, Texas and Alberta, Canada. Sunbelt’s in-house processing services include deep hole drilling, straightening, and saw cutting with the ability to manufacture heavy-wall tubing from solid bar.
Reliance Steel & Aluminum Co., headquartered in Los Angeles, California, is the largest metals service center company in North America. Through a network of more than 300 locations in 39 states and 12 countries outside of the United States, Reliance provides value-added metals processing services and distributes a full line of over 100,000 metal products to more than 125,000 customers in a broad range of industries.