(March 16, 2011)
Gibraltar Industries, a producer and distributor of products meant for industrial and building markets, declared that it has contracted an accord to take over D.S. Brown Company, an Ohio-based producer of structural bearings, expansion joints, and pavement sealants required for highways, bridges and other types of infrastructure projects.
Earlier the company had traded its own United Steel Products Company, a provider of structural connectors required for commercial and residential buildings, to MiTek Industries, a subsidiary of Berkshire Hathaway.
A century old, D.S. Brown, has achieved good success in its type of industry and achieved a combined yearly growth rate of 10% during the last five years. The accord signed between Gibraltar Industries and Altus Capital Partners, the controller and major stake holder in D.S. Brown, await normal closing conditions and the required regulatory approvals. The ownership transfer process is expected to be completed in three to four weeks time.
According to Brian Lipke, Chairman and Chief Executive Officer of Gibraltar, the take over of D.S. Brown is in line with the strategy followed by the company to acquire companies that lead the market with its products and with a potent growth profile. The acquisition of D.S. Brown will enable Gibraltar to enlarge its building markets coverage and will improve its value chain with a range of engineered products.
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