Officials for AmesburyTruth announced Wednesday that the company has completed the acquisition of Lawrence Industries, including its Thomasville, N.C.-based production facility. The move aligns with Amesbury’s strategy in North America to further develop its product offerings, officials said, most notably the addition of “impressive injection molding proficiencies.” Combined, the companies now have injection molding capabilities in three locations across the U.S., which are positioned “to back each other up in order to maximize continuity for the markets,” officials told [DWM]. The move adds flexibility and capabilities to Amesbury’s supply chain, said Bob Burns, the company’s president.

Lawrence builds and designs molds, and manufactures composite hardware for sliding and hung window fabricators. The company was founded in 2005 and currently has more than 50 employees in Thomasville. Following the acquisition, Lawrence will continue to operate under its existing name, while Brandon Lawrence, the company’s president, will serve as general manager.

“Lawrence brings many benefits to our customers including high-performance composite hardware capabilities, allowing us additional opportunities to provide cost effective options to the ever-growing affordable homes market,” said Vince Eslick, vice president of sales for Amesbury. “The customer base finds Lawrence fast and simple to work with and enjoys the short, reliable lead times.”

Over time, it is likely that that the company will direct more of its business to Lawrence, Amesbury officials told [DWM]. “We like that the commodity costs on composites are not as volatile as metal alternatives,” they said.

“We are thrilled to join forces with AmesburyTruth,” Brandon Lawrence said. “This partnership will accelerate our growth and enable us to provide an even stronger value proposition to our customers. We remain dedicated to delivering excellence in both our products and services while maintaining the high standards that have made Lawrence Industries a trusted industry leader in composite hardware.”

Officials for Tyman PLC, Amesbury’s parent company, said the deal was made for an initial consideration of $57 million on a debt- and cash-free basis.

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