Gibraltar Expands Residential Building Capabilities Via Acquisition Of Quality Aluminum Products - Gibraltar Industries (NASDAQ:ROCK)

Gibraltar Industries, Inc. ROCK has acquired Quality Aluminum Products (QAP), a manufacturer of residential building products, for $54 million in cash.
QAP manufactures aluminum and steel products and serves wholesale markets in the Midwest, Northeast, and South. For the trailing twelve months ended July 31, 2022, QAP recorded revenue of $93 million and Adjusted EBITDA of $11.5 million.
The company expects the transaction to be immediately accretive to earnings.
"The acquisition of QAP expands our residential product offering and builds our presence in additional regional markets supporting both retail and wholesale customers," Chairman and CEO Bill Bosway stated.
ROCK held cash and equivalents of $17.15 million as of June 30, 2022.
Price Action: ROCK shares are trading lower by 0.74% at $44.23 on the last check Tuesday.