AZZ Inc. (Fort Worth, Texas, USA) a global provider of metal coating solutions, welding solutions, specialty electrical equipment, and highly engineered services, announced that it has acquired all the assets of Acme Galvanizing, Inc. (Milwaukee, Wisconsin, USA).
Described as a privately held hot-dip galvanizing and zinc electroplating company, Acme has been providing quality metal coating services to the post-fabrication steel market for more than 100 years.
Terms of the transaction were not disclosed, and AZZ expects the acquisition to be accretive to earnings within the first year of operation.
Through the acquisition, AZZ adds a well-established and successful metal coatings operation with a diverse customer base, which operates in an 80,000-ft2 (7,432.2 m2) facility in Milwaukee. Going forward, AZZ intends to operate the new facility as AZZ Galvanizing and Plating—Milwaukee, allowing it to further extend its ability to support U.S. Midwest customers. The new plant will be integrated into AZZ’s existing network of hot-dip galvanizing plants, increasing its total network to 40 sites in North America.
“We are pleased with the synergistic acquisition of Acme, as we continue to execute our strategic plan to drive profitable growth and strengthen our overall metal coatings business,” says Bryan L. Stovall, president and chief operating officer of AZZ Metal Coatings. “With the acquisition of Acme, AZZ enhances its scope of metal coating services in the Midwest with the addition of four advanced fully automated zinc plating lines and a totally enclosed galvanizing kettle.”
Source: AZZ Inc., www.azz.com.