This week’s multibillion-dollar sales of Dell and Virgin Media may have jolted a slumping M&A market looking to bounce back in 2013while pulling in armies of Am Law 100 attorneys along the waybut they aren’t the only major deals to be announced over the past few days. The metals sector, specifically, has seen a pair of substantial transactions that yielded roles for a trio of large firms.
Reliance Steel & Aluminum, North America’s largest metals service center, said Wednesday it has agreed to purchase Metals USA Holdings in a deal with an enterprise value of $1.2 billion that is its largest acquisition to date. Of that sum, $766.1 million is coming from Reliance Steel, which is financing the rest of the transaction with debt from a $1.5 billion credit facility for Metals USA.
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