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Katten Muchin Rosenman Represents Earle M. Jorgensen Company in $984 Million Completed Acquisition by Reliance Steel

Firm News | April 7, 2006

LOS ANGELES - Katten Muchin Rosenman LLP is pleased to have served as legal counsel to Earle M. Jorgensen Company (EMJ), one of the largest distributors of metal products in North America, in the $984 million acquisition of the company by Reliance Steel & Aluminum Co., one of the nation’s largest processors of metal products.

Reliance Steel announced on April 3, 2006 that it completed the previously announced acquisition of EMJ. The transaction was valued at approximately $984 million, including the assumption of EMJ’s net debt. EMJ, whose stockholders approved the acquisition on March 31, 2006, will operate as a wholly owned subsidiary of Reliance.

The acquisition was immediately accretive to Reliance. The combined companies have more than 150 locations in 35 states and Belgium, Canada, China and South Korea with total assets of approximately $3 billion and annual revenues of more than $5 billion.

"We've represented Jorgensen for more than 15 years, have close relationships with management and the employees, and we were pleased to be able to close this transaction relatively quickly without many difficult issues to overcome," said Mark A. Conley, lead counsel for EMJ and a partner in Katten’s Corporate Practice in Los Angeles. "The two companies are generally acknowledged to be the premier metal service center companies in North America and the combination should only enhance that position."

Mr. Conley was assisted on the deal by partner Jack McBride in the Los Angeles office; partners Saul Rudo, William Mattingly, Adam Klein and Jim Smulkowski in Chicago; and partners William Duff, James Calder and Louise Tudor in New York. Associates James J. Thompson, Carolyn F. Loffredo and Heather Dennis assisted in the Los Angeles office, along with associates David Calicchia and Daniel Lange in Chicago, and associate Joanna Bernard in New York. Paralegal Jennifer Chung also worked on the deal for the Firm in Los Angeles.

Reliance (NYSE:RS), which went public in 1994, is a nationwide processor and distributor of metal products. It has completed more than 30 acquisitions of smaller metals-processing companies since its initial public offering. The transaction is Reliance’s largest acquisition to date and its first acquisition of a public company.

EMJ, (NYSE:JOR) headquartered in Lynwood, Calif., is one of the largest distributors of metal products in North America with 40 service and processing centers and for years was one of the Southland's largest privately held companies. EMJ completed its initial public offering in April 2005.

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