This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Quarton Partners Advises Freestone Partners And Sunbelt Steel In Its Sale To Reliance Steel & Aluminum Co. (NYSE: RS)

Stocks in this article: RS

BIRMINGHAM, Mich., Oct. 3, 2012 /PRNewswire/ -- Quarton Partners is pleased to announce the sale of Sunbelt Steel Texas, LLC ("Sunbelt"), a value-added distributor of specialty alloy steel bar and heavy-wall tubing products to the oil and gas industry, to Reliance Steel & Aluminum Co. (NYSE: RS).  Sunbelt was a portfolio company of Freestone Partners, LLC ("Freestone"). Quarton Partners acted as the exclusive advisor to Sunbelt and Freestone.  The transaction closed on October 1, 2012.

David H. Hannah, Chairman and CEO of Reliance Steel & Aluminum Co. commenting on the transaction, "We are excited to add Sunbelt Steel Texas, LLC to the Reliance Family of Companies. Sunbelt increases our growing exposure to the energy market in high end, niche products serving customers across multiple oil and gas well drilling types, including vertical, horizontal, directional, and deepwater drilling applications. 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. We look forward to continuing Sunbelt's growing presence in their specialty markets."

Based in Houston, Texas, Sunbelt ( www.sunbeltsteel.com) 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 will operate as a wholly-owned subsidiary of Reliance Steel and Aluminum Co. Current management will remain in place with Michael Kowalski continuing as President of Sunbelt.

Based in Los Angeles, California, Reliance Steel & Aluminum Co. ( www.rsac.com) is the largest metals service center company in North America.  Through a network of more than 220 locations in 38 states and Australia, Belgium, Canada, China, Malaysia, Mexico, Singapore, South Korea, the U.A.E. and the United Kingdom, the Company 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. The Company was named to the 2012 " Fortune 500" List and the 2012 Fortune List of " The World's Most Admired Companies."

ABOUT QUARTON PARTNERS

Quarton Partners ( www.quartonpartners.com), headquartered in Birmingham, Michigan, is a specialty investment banking firm, serving privately held and publicly traded companies, as well as private equity firms. Quarton Partners assists its clients with mergers and acquisitions, private capital raising, and other financial advisory services. Its principals have successfully completed hundreds of engagements in a wide variety of industries across the U.S. and throughout the world. 

SOURCE Quarton Partners

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,387.21 -291.49 -1.65%
S&P 500 2,029.55 -27.54 -1.34%
NASDAQ 4,681.4970 -90.2660 -1.89%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs