AZZ Acquires K2 Partners to Expand Metal Coating Services.
M2 EQUITYBITES-April 17, 2019-AZZ Acquires K2 Partners to Expand Metal Coating Services
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17 April 2019 - Texas, US-based steel fabrication company AZZ Inc. (NYSE: AZZ) has acquired all the assets and outstanding shares of Florida, US-based K2 Partners, Inc., providing powder coating and electroplating services, the company said.
Terms of the transaction were not disclosed. AZZ expects the acquisition will be accretive to earnings within the first year of operation.
Through the acquisition, AZZ gains the powder coating operations of Centrix Powder Coating in Tampa, Florida and the powder coating and electroplating operations of Cimcon Finishing in Garland, Texas.
K2 Partners Inc., a Florida corporation, has provided regional powder coating and electroplating services to customers in Texas and Florida since 1994.
The company's electroplating and anodising service provide unique aesthetic, wear and anti-corrosion benefits for steel and aluminum.
AZZ is a provider of metal coating services, welding solutions, speciality electrical equipment and highly engineered services to the power generation, transmission, distribution and industrial markets.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Apr 17, 2019|
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