Lincoln Electric Acquires Remaining Interest in Alloy Steel

Reliance Steel & Aluminum Co. Acquires American Alloy Steel, Inc.

February 14, 2024

Industrial Services

Reliance Steel & Aluminum Co. has entered into a definitive agreement to acquire all outstanding equity interests and related real estate assets of American Alloy Steel, Inc., a Houston-based distributor and fabricator of specialty carbon and alloy steel plate and round bar. The acquisition adds specialty plate and new fabrication/value-added processing capabilities to Reliance's portfolio; American Alloy reported approximately $310 million in sales for the 12 months ended Dec. 31, 2023.

Olympic Steel Acquires Shaw Stainless & Alloy

October 1, 2021

Manufacturing

Olympic Steel Inc. has acquired the assets of Shaw Stainless & Alloy in an all-cash, immediately accretive transaction; terms were not disclosed. The acquisition brings Shaw's stainless steel distribution, fabrication, architectural and barrier defense businesses into Olympic Steel's specialty metals segment while retaining Shaw's management and operations in Georgia.

Holleway Capital Acquires Aladdin Steel

June 7, 2023

Industrial Services

Holleway Capital, a St. Louis-based private equity firm focused on Midwestern manufacturers and distributors, has acquired Aladdin Steel, a specialty carbon steel tubing and pipe distributor founded in 1976 and headquartered in Gillespie, Illinois. RKCA advised the sell-side; founder Gene Eschbacher, who became sole owner in 2009, was the selling party. The acquisition expands Holleway's exposure to regional industrial distribution and value‑added steel services.

Alcoa Acquires Alumina Limited in $2.2B All-Stock Deal

March 12, 2024

Manufacturing

Alcoa announced it will acquire Australia-based Alumina Limited in an all‑stock transaction valued at $2.2 billion, giving Alcoa full control of the AWAC joint venture. Under the scheme, Alumina shareholders will own roughly 31.6% of the combined company (Alcoa shareholders ~68.4%), a transaction Alcoa says strengthens its exposure to tier‑1 bauxite and alumina assets and increases vertical integration across the aluminum value chain.

EQI Ltd. Acquires Ferralloy, Inc.

May 6, 2025

Manufacturing

EQI Ltd. has acquired Ferralloy, Inc., a Cleveland-based supplier of heat-resistant alloy castings, forgings, machined components and specialty raw materials. The deal will fold Ferralloy into EQI's portfolio (alongside Pro-Tech) to expand EQI's thermal processing and metal components capabilities and broaden its customer base and supply-chain footprint.

Olympic Steel Acquires Action Stainless & Alloys

December 14, 2020

Industrial Services

Olympic Steel Inc. (Nasdaq: ZEUS) has acquired the assets of Action Stainless & Alloys, a full-line distributor and processor of stainless steel and aluminum based near Dallas, Texas. The all-cash transaction expands Olympic Steel's specialty metals footprint and adds product and processing capabilities; terms were not disclosed.