All Metal Services (AMS), which provides a raw material service to the aerospace and defence industries, has been taken over by US steel giant Reliance Steel & Aluminium Co.
AMS, one of the largest companies of its kind in the world with a turnover of almost £175 million, has sold all its capital stock.
Established in 1974 and with its head office in London, AMS deals with aerospace and defence equipment manufacturers — and their sub-contractors — in more than 40 countries.
The company offers a range of aerospace metals including aluminium, steel, titanium, nickel alloys and aluminium bronze. In 2013 it generated revenues of £174.9 million and will now operate as a wholly owned subsidiary of Reliance Steel through its UK holding companies.
The current management will remain in place.
David Hannah, the chairman and CEO of Reliance Steel, said: “This acquisition is especially attractive given the current and anticipated growth of the global aerospace industry.
“AMS is a well-established and trusted supplier to the aerospace and defence markets, and we look forward to continuing to support their existing global customer base while maximising opportunities for growth.”