AZZ Inc. Acquires DAAM Galvanizing

AZZ Inc., a global provider of galvanizing and metal coating solutions for critical infrastructure construction and maintenance, has announced that it has signed an agreement to acquire DAAM Galvanizing Co. Ltd. ("DAAM"), a private hot-dip galvanizing company headquartered in Edmonton, Alberta, Canada. The terms of the transaction were not disclosed. Through the acquisition, AZZ will add Western Canada's most trusted hot-dip galvanizing service provider to its established and successful metal coating operations. DAAM is known as a company with 60 years of industry excellence, continuous improvement, safety, quality and customer satisfaction commitment. AZZ expects the acquisition to increase earnings in the first year of operations. DAAM currently operates two galvanizing facilities in Canada; one in Edmonton, Alberta, and a second in Saskatoon, Saskatchewan, and also has a service depot in Calgary, Alberta. Following completion of the acquisition, AZZ will operate the new facilities as AZZ Galvanizing – Edmonton and AZZ Galvanizing – Saskatoon and plans to make additional investments in Calgary to expand AZZ's ability to support customers in Central and Western Canada. The new metal coating facilities will be integrated into AZZ's existing hot-dip galvanizing facility network and will increase the total hot-dip galvanizing network to 42 facilities in North America. Bryan L. Stovall, President and COO of AZZ Metal Coatings, stated, "With more than 60 years of long and successful operating history, we are pleased to have reached an agreement to add DAAM Galvanizing to AZZ's Metal Coatings portfolio. This acquisition is a testament to our commitment to deliver profitable growth and strengthen our Metal Coatings business. The addition of DAAM will expand AZZ's geographic reach in the Northwest and broaden the scope of metal coating services in Canada. We welcome DAAM's employees and customers to AZZ and look forward to a seamless integration with the industry's leading customer service." Source