AZZ Inc. Acquired DAAM Galvanizing

AZZ Inc. Acquired DAAM Galvanizing 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 DAAM Galvanizing Co. Ltd. (“DAAM”), a privately held hot-dip galvanizing company based in Edmonton, Alberta Canada. Terms of the transaction were not disclosed. Through the acquisition, AZZ will add Western Canada’s most trusted provider of hot-dip galvanizing services to its well-established and successful metal coatings operation. DAAM has a 60-year reputation of industry excellence, commitment to continuous improvement, safety, quality and customer satisfaction. AZZ expects the acquisition will be accretive to earnings within the first year of operation. DAAM currently operates two galvanizing facilities in Canada; one located in Edmonton, Alberta and a second in Saskatoon, Saskatchewan, as well as a service deposit in Calgary, Alberta. Upon closing, AZZ intends to operate the new facilities as AZZ Galvanizing – Edmonton and AZZ Galvanizing – Saskatoon, and make further investments in Calgary to extend AZZ’s ability to support customers in Central and Western Canada. The new metal coatings plants will be integrated into AZZ’s existing network of hot-dip galvanizing plants, increasing its total hot-dip galvanizing network to 42 sites in North America. Bryan L. Stovall, President & COO of AZZ Metal Coatings, commented, “With a long and successful operating history of more than 60 years, we are pleased to reach an agreement to add DAAM Galvanizing to AZZ’s Metal Coatings portfolio. This acquisition is a testament to our commitment to drive profitable growth and strengthen our Metal Coatings business. The addition of DAAM will expand AZZ’s geographical coverage in the Northwest and enhances its scope of metal coating services in Canada. We welcome DAAM’s employees and customers to AZZ and look forward to a seamless integration with uninterrupted industry-leading customer service.” Source