Berkshire's MiTek Buys Benson Industries, No Terms Disclosed

MiTek Industries (MiTek), a Berkshire Hathaway company (NYSE: BRK-A, NYSE: BRK-B), and the world's leading supplier of advanced engineered structural connector systems, equipment, software and services for the building components industry announced today that it has acquired Benson Industries, LLC. Benson is the global leader in the design, pre-fabrication and installation of custom unitized curtain wall systems for high-end commercial, hotel, residential, governmental, and institutional buildings worldwide. MiTek is a subsidiary of Warren Buffett's Berkshire Hathaway Inc. “The acquisition of Benson extends MiTek's product offering into the global high-rise commercial building construction market. Benson is a terrific addition to the MiTek family,” stated Tom Manenti, Chairman and CEO of MiTek. “Lou Niles will continue to serve as Chief Executive Officer of Benson, along with Joe Aholt as Chief Operating Officer. The entire Benson management team will remain, and continue to lead the company. Benson will operate as a separate subsidiary of MiTek,” Manenti commented. “We are delighted to be part of the MiTek and Berkshire Hathaway team,” said Lou Niles. “Their business philosophy and corporate culture are a perfect fit for Benson. With the strength and backing of MiTek and Berkshire, we plan to grow the company through a series of strategic initiatives. This is truly an exciting combination, and together we will do remarkable things.”