LOS ANGELES — Reliance Steel & Aluminum Co. announced Tuesday that effective Oct. 2, it has acquired all of the common stock of Ferguson Perforating Company through Diamond Manufacturing Company, a wholly-owned subsidiary of Reliance.
Founded in 1927, Ferguson manufactures perforated metal parts for numerous applications in domestic and international markets. Ferguson specializes in producing highly engineered and complex perforated metal for diverse end markets ranging from aerospace and automotive to industrial machinery, consumer electronics manufacturers and sugar producers. The company is headquartered in Providence, RI and operates an additional facility in New Castle, PA.
For the year ended Dec. 31, 2016, Ferguson’s net sales were approximately $31 million. Upon the close of the transaction, Ferguson’s current Chief Executive Officer will retire while the rest of the management team will remain in place. The terms of the transaction were not disclosed.
“Ferguson fits solidly into our growth strategy of acquiring companies with high value-added processing capabilities and furthers our product diversification,” commented Gregg Mollins, President and Chief Executive Officer of Reliance. “The Company is a very well respected perforator and is known for its ability to provide highly customized and complex processing solutions. Ferguson’s skills complement our existing perforator company, Diamond Manufacturing, and we look forward to the potential opportunities that may arise as a result of this acquisition. We are very pleased to welcome Ferguson to the Reliance family of companies and to expand our presence in this important niche market.”