AZZ Inc. to Acquire Precoat Metals

AZZ Inc. (Fort Worth, Texas), a global provider of galvanizing and metal coating solutions, welding solutions, specialty electrical equipment and highly engineered services for maintaining and building critical infrastructure, has announced that it will acquire Sequa Corporation’s (Palm Beach Gardens, Florida) Precoat Metals (St. Louis, Missouri) business division for a purchase price of approximately $1.28 billion.

Precoat is a leading independent provider of metal coil coating solutions in North America. Precoat engages in the advanced application of protective and decorative coatings and related services for steel and aluminum coil; it primarily serves the construction, appliance, heating, ventilation and air conditioning (HVAC), container, transportation end markets, among others.

Tom Ferguson, CEO of AZZ, commented, “Through this acquisition, AZZ significantly broadens our metal coatings offering. We believe the coil coating market will provide sustainable future growth for AZZ, and we intend to provide Precoat with the financial resources to expand and further invest in commercial and operational excellence. This acquisition represents a continued transition of AZZ from a diverse holding company to a focused provider of coating and galvanizing services for critical applications.”

The acquisition is expected to close in the first quarter of AZZ's fiscal year 2023 and is subject to customary closing conditions and regulatory approvals.