AZZ Inc. (Fort Worth, Texas, USA) a global provider of metal coating services, welding solutions, specialty electrical equipment, and highly engineered services to the power generation, transmission, distribution and industrial markets, has acquired all the assets and outstanding shares of privately held K2 Partners, Inc. (Tampa, Florida, USA).
K2 provides powder coating and electroplating services to customers in the U.S. Midwest and Southeast regions from locations in Texas and Florida.
Terms of the transaction were not disclosed, and AZZ expects the acquisition will be accretive to earnings within the first year of operation.
“The acquisition of K2 expands our geographical reach in metal coating services and broadens our service offerings in strategic markets,” says Michael Doucet, senior vice president of the company’s surface technologies business. “The K2 facility in Texas is ideally located to increase our ability to service customers in Texas and into the Midwest, while their operation in Florida expands AZZ's capability to provide metal coating services to customers in the Southeast.
Through the acquisition, the company gains the powder coating operations of Centrix Powder Coating in Tampa, Florida, as well as the powder coating and electroplating operations of Cimcon Finishing in Garland, Texas.
Going forward, the facility in Tampa will operate as AZZ Powder Coating–Tampa, while the location in Garland will operate as AZZ Powder Coating and Plating–Garland. The acquisition increases the company’s metal coatings network of plants to 44 sites in the United States and Canada.
“We are pleased to welcome K2's employees to AZZ and look forward to a seamless integration while providing customers with expanded services through our network of metal coating plants,” Doucet adds.
Source: AZZ Inc., www.azz.com.