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Nu-Tech was founded in 1985 and is headquartered in Arnprior near Ottawa, Ontario. It serves various markets in North America, including nuclear, aerospace and military markets. Nu-Tech's wide range of products include tubes, pipes, engineering shapes, and round and flat bars of pure metals and titanium, zirconium, copper, nickel, hafnium, niobium and steel alloys. Nu-Tech's 2020 annual net sales are approximately US$44 million. The terms of the transaction were not disclosed.

Reliance CEO Jim Hoffman commented: “Nu-Tech focuses on specialty products with high value-added processing levels, which is consistent with our business model and strategy of investing in high-quality, high-profit businesses.” “Nu-Tech is in line with Reliance's approach to acquiring an instant value-added company with a strong management team, brand awareness and quality reputation. Nu-Tech has established a respected position in the main markets it serves through its proprietary processes and quality certifications. In addition, Nu-Tech Tech supports Reliance's customer, product and geographic diversification strategy, and expands our product breadth in specialty metals. We expect that the acquisition of Nu-Tech will support the growth of Reliance's business in nuclear, aerospace and other industries. We I am very happy to welcome Nu-Tech to the Reliance family of companies."