UFP Industries Acquires Ultra Aluminum Manufacturing For $25M - UFP Industries (NASDAQ:UFPI)

UFP Industries Inc UFPI subsidiary, Deckorators, Inc., has acquired Ultra Aluminum Manufacturing Inc., a manufacturer of aluminum fencing, gates, and railing, for $25 million.
The transaction includes $2 million to be paid if specific future performance goals are met.
Ultra designs and produces ornamental aluminum fence and railing products for contractors, landscapers, fence dealers, and wholesalers. The company had trailing 12-month sales through November 2021 of ~$46 million.
The transaction adds aluminum fencing to UFP Industries' current vinyl and wood fencing lineup.
Ultra President Russ Springborn and VP of Business Development Dave Stewart will continue in leadership roles.
UFP Industries held cash and cash equivalents of $156.23 million as of September 2021.
Price Action: UFPI closed higher by 2.54% at $89.96 on Monday.