Acquiring Company
AZZ
Acquired Company
Precoat Metals
Fort WorthManufacturingNatural ResourcesManufacturingDescription
AZZ Inc. ("AZZ" or the "Company") (NYSE: AZZ), a global provider of galvanizing and metal coating solutions, welding solutions, specialty electrical equipment and highly engineered services for maintaining and building critical infrastructure, and Sequa Corporation ("Sequa"), a portfolio company of global investment firm Carlyle (NASDAQ: CG), jointly announced today that they have entered into a definitive agreement whereby AZZ will acquire Sequa's Precoat Metals business division ("Precoat") for a purchase price of approximately $1.28 billion. When adjusted for the net present value of approximately $150 million of expected net tax benefits, the net purchase price is approximately $1.13 billion, which represents approximately 8.2x Precoat's adjusted EBITDA for the twelve months ended December 31, 2021.
Quick answer
AZZ is acquiring Precoat Metals, announced March 7, 2022. AZZ is based in Fort Worth, Texas, United States.
- How much did AZZ pay for Precoat Metals?
- The deal value was not disclosed.
- What does AZZ do?
- AZZ Inc. is a global provider of galvanizing and a variety of metal coating solutions, welding solutions, specialty electrical equipment and highly engineered services to a broad range of markets, including but not..
- Where are AZZ and Precoat Metals based?
- AZZ is based in Fort Worth, Texas, United States.
- Who are the decision-makers at AZZ?
- Fundz holds 1 contact at AZZ. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
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Frequently asked
Who acquired Precoat Metals?
Precoat Metals was acquired by AZZ, based in Fort Worth. The deal was reported on March 7, 2022. AZZ Inc. AZZ is publicly traded (AZZ) and operates in Manufacturing.
When did AZZ acquire Precoat Metals?
AZZ's acquisition of Precoat Metals was reported on March 7, 2022. AZZ Inc. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Precoat Metals do?
Founded in 1961 and headquartered in St. Louis, Missouri, Precoat Metals is the leading independent provider of metal coil coating solutions in North America. It is privately held, operating in Manufacturing.
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