AZZ Inc. (AZZ) (Fort Worth, Texas, USA) announced that it has entered into an agreement to acquire DAAM Galvanizing Co. Ltd. (DAAM) (Edmonton, Alberta, Canada). Terms of the transaction were not disclosed, but the acquisition is expected to be accretive to earnings within the first year of operation.
The acquiring company, AZZ, is a global provider of galvanizing and metal coating solutions, welding solutions, specialty electrical equipment, and highly engineered services for maintaining and building critical infrastructure. DAAM has a 60-year reputation of industry excellence, commitment to continuous improvement, safety, quality, and customer satisfaction.
Through its acquisition of DAAM, AZZ will add Western Canada’s largest provider of hot-dip galvanizing services—including two galvanizing facilities and a service depot in Canada—to its well-established and successful metal coatings operation. AZZ intends to operate the new facilities in Edmonton and Saskatoon, as well as make further investment to its service depot in Calgary. The new metal coatings plants will be integrated into AZZ’s existing network of hot-dip galvanizing plants, thereby increasing its network to 42 plants in North America.
“With a long and successful operating history of more than 60 years, we are pleased to reach an agreement to add DAAM Galvanizing to AZZ’s Metal Coatings portfolio,” says Bryan L. Stovall, president and COO of AZZ Metal Coatings. “This acquisition is a testament to our commitment to drive profitable growth and strengthen our Metal Coatings business. The addition of DAAM will expand AZZ’s geographical coverage in the Northwest and enhances its scope of metal coating services in Canada. We welcome DAAM’s employees and customers to AZZ and look forward to a seamless integration with uninterrupted industry-leading customer service.”
Source: AZZ Inc., www.azz.com.