- UFP Industries Inc UFPI subsidiary, Deckorators, Inc., has acquired Ultra Aluminum Manufacturing Inc., a manufacturer of aluminum fencing, gates, and railing, for $25 million.
- The transaction includes $2 million to be paid if specific future performance goals are met.
- Ultra designs and produces ornamental aluminum fence and railing products for contractors, landscapers, fence dealers, and wholesalers. The company had trailing 12-month sales through November 2021 of ~$46 million.
- The transaction adds aluminum fencing to UFP Industries' current vinyl and wood fencing lineup.
- Ultra President Russ Springborn and VP of Business Development Dave Stewart will continue in leadership roles.
- UFP Industries held cash and cash equivalents of $156.23 million as of September 2021.
- Price Action: UFPI closed higher by 2.54% at $89.96 on Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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