Private equity firm Platinum Equity, Los Angeles, CA, has agreed to sell PNA Group to Reliance Steel &Aluminum Co., Los Angeles, CA, for $1.1 billion.
PNA Group processes and distributes steel in a variety of forms, including structural beams, tubes, and coiled and rolled steel.
Platinum acquired PNA in May 2006. Following the acquisition, Platinum completed three add-on acquisitions to expand PNA’s capabilities: Metals Supply Co., Precision Flamecutting and Steel, and Sugar Steel. PNA’s revenue in 2007 was $1.6 billion, up from $1.2 billion at the time of the acquisition.
Platinum Equity has been active in the distribution arena. The firm owns Strategic Distribution Inc., Bristol, PA, and metals distributor Ryerson Inc., Chicago, …
Reliance Steel Agrees to Buy PNA Group
Private equity firm Platinum Equity, Los Angeles, CA, has agreed to sell PNA Group to Reliance Steel &Aluminum Co., Los Angeles, CA, for $1.1 billion.
PNA Group processes and distributes steel in a variety of forms, including structural beams, tubes, and coiled and rolled steel.
Platinum acquired PNA in May 2006. Following the acquisition, Platinum completed three add-on acquisitions to expand PNA’s capabilities: Metals Supply Co., Precision Flamecutting and Steel, and Sugar Steel. PNA’s revenue in 2007 was $1.6 billion, up from $1.2 billion at the time of the acquisition.
Platinum Equity has been active in the distribution arena. The firm owns Strategic Distribution Inc., Bristol, PA, and metals distributor Ryerson Inc., Chicago, …
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