Euramax acquires Cleveland Tubing
Aug 16, 2012 (M&A Navigator via COMTEX) --
(C)2012 M2 COMMUNICATIONS http://www.m2.com
16 August 2012 - Euramax International Inc, the US metal and fiberglass products manufacturer that is part of Euramax Holdings Inc, announced the acquisition of Cleveland Tubing Inc (CTI) without disclosing financial terms.
Mitchell B. Lewis, president and chief executive Euramax Holdings, said that the company was very pleased with the deal, which brings in an excellent, long-standing supply partner. CTI has built extensive expertise in designing and manufacturing corrugated plastic parts and some of those products are sold through Euramax' North American residential segment. With the addition of CTI, Euramax will be able to enhance its product portfolio as it leverages CTI's manufacturing expertise and capabilities, Lewis added.
CTI was created in 1989 and is based in Cleveland, Tennessee. The company develops and produces collapsible and flexible speciality drainage products ranging from drinking straws to customised applications for plastic tubing.
Euramax International was set up in 1996 to serve as a platform for the acquisition of integrated aluminum producer Alumax Inc. It manufactures aluminium, steel, vinyl, copper and fiberglass products designed for use by original equipment manufacturers, distributors, contractors and home centers across North America and western Europe. Its portfolio includes products such as speciality coated coils, metal wall and roof systems, metal and vinyl rain carrying systems, soffit and fascia systems, roofing accessories, aluminum and vinyl windows and doors, patio products, aluminum recreational vehicle doors, windows and sidewalls and aluminum bath and shower enclosures.
Target: Cleveland Tubing Inc
Buyer: Euramax International Inc, Euramax Holdings Inc
Type: Corporate acquisition