Metals USA Acquires Gregor Technologies
03/14/2012 - Metals USA Holdings Corp. has acquired Torrington, Conn., based Gregor Technologies, LLC, a provider of high-quality custom-crafted parts and assemblies and tailored solutions to OEM customers in several attractive end markets.
Metals USA Holdings Corp. has acquired Torrington, Conn., based Gregor Technologies, LLC.
Established in 1989, Gregor provides high-quality custom-crafted parts and assemblies and tailored solutions to OEM customers in several attractive end markets. These markets include industrial equipment manufacturing, scientific instruments, electronics, aerospace, homeland security and defense. Gregor operates from a state-of-the-art 70,000 square foot facility.
"We are very pleased to complete the acquisition of Gregor Technologies,” sated Lourenco Goncalves, Chairman, President, and CEO of Metals USA. “Gregor's strong margin performance through the cycle, emphasis on specialized value-added processing, and commitment to customers are all attributes we seek in an acquisition. In an environment where more and more customers are outsourcing low volume, high cost metal processing, we believe Gregor is a solid addition to the Metals USA platform."
"Gregor represents a continuation of the M&A growth strategy we articulated in our IPO and have consistently executed since then,” continued Goncalves. “We will continue to seek high quality acquisitions, like Gregor, that average-up Metals USA's EBITDA margin."
Metals USA expects that the transaction will be immediately accretive to earnings.
Metals USA provides a wide range of products and services in the heavy carbon steel, flat-rolled steel, non-ferrous metals, and building products markets.
