AZZ Inc. (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, announced today that it has entered into an agreement to acquire all the assets of Steel Creek Galvanizing Company, LLC ("Steel Creek"), a privately held hot-dip galvanizing company based in Blacksburg, South Carolina. Terms of the transaction were not disclosed. AZZ expects the acquisition will be accretive to earnings within the first year of operation.
AZZ will operate the new facility as AZZ Galvanizing – South Carolina and further extends AZZ's ability to support customers in the Southeast region of the United States. The new galvanizing facility will be integrated into AZZ's existing network of hot-dip galvanizing plants, increasing its total galvanizing network to 40 sites in North America.
Steel Creek provides hot-dip galvanizing to customers located in the Southeast from its 83,000 square foot facility that features one of the largest galvanizing kettles in the United States. With a 25 ton crane system and a 55 foot long kettle, Steel Creek has the capability to galvanize the largest steel structures needed to support critical infrastructure. Steel Creek's strategic location provides the ability to serve key markets in the Southeast, including Charlotte, Greenville, Spartanburg, Asheville, Columbia, Greensboro and Atlanta. Steel Creek was also a strong sustainability target for AZZ since its business practices demonstrate a commitment to being a good corporate citizen and quality employer, and it has made significant investments in environmentally friendly equipment specifically designed to protect the community and its employees.
Bryan L. Stovall, President & COO - Metal Coatings, commented, "We are pleased to add Steel Creek's galvanizing operations and expand our geographical coverage into the Southeast region. This strategic acquisition provides AZZ the opportunity to broaden our metal coating offerings in new markets and strengthens our network of metal coatings facilities. We welcome Steel Creek's employees and customers to AZZ and look forward to a seamless integration with uninterrupted industry-leading customer service."