Gibraltar Expands Residential Building Capabilities Via Acquisition Of Quality Aluminum Products

  • 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.
Posted In: M&ANewsSmall CapBriefs