Quanex Building Products Completes Acquisition of Edgetech I.G.April 1st, 2011 by DWM Magazine
Quanex Building Products Corp. has completed its acquisition of Edgetech. Quanex reported it paid $107.0 million in an all-cash transaction and the acquisition is expected to be accretive in year one.
“I am pleased to announce our completed acquisition of Edgetech, a leading manufacturer of warm-edge insulating glass spacer systems for U.S. and internationally based window and door customers,” says David Petratis, chairman and chief executive officer of Quanex. “Acquiring Edgetech not only strengthens our company and enhances our team, it complements our on-going efforts to provide our customers with the broadest range of high-quality components, products, systems and services the fenestration industry has to offer. Acquiring Edgetech will allow us to better serve our growing base of large and regional customers and will further accelerate our international growth. Together, we will develop the next generation of energy efficient spacer systems.”
Petratis adds, “Our two companies have been working diligently since January to ensure a smooth integration of Edgetech into our Engineered Products segment. Integration is on-track and progressing well, which will ensure a seamless experience for our combined customer base. Quanex and its family of businesses remain committed to driving outstanding customer service in the fenestration industry.”
The pending acquisition was announced in late January.