Reliance Steel & Aluminum (RS) agreed to buy privately-held Sunbelt Steel Texas on Wednesday in an effort to grow its exposure to the energy market.
Terms of the deal were not disclosed.
Founded in 1986, Sunbelt distributes special alloy steel bar and heavy-wall tubing products to the oil and gas industry. The Houston-based company recorded 2011 sales of $48 million.
"Sunbelt increases our growing exposure to the energy market in high end, niche products serving customers across multiple oil and gas well drilling types," Reliance CEO David Hannah said in a statement.
Reliance will now be able to serve customers across vertical, horizontal, directional, and deepwater drilling categories.