Valmont completed the acquisition of a majority stake in Convert Italia

Valmont Industries, a leading global provider of engineered products and services for infrastructure development and irrigation equipment and services for agriculture, acquired a 75% majority stake in Convert Italia, a manufacturer of solar energy equipment. The transaction was funded with cash on hand. Financial terms were not disclosed. "The partnership with Convert Italia is an exciting advancement of our strategy to grow market adjacencies in our Utility Support Structures business. Combining their single axis tracker technology with our global manufacturing capabilities and utility customer base, allows us to provide an integrated solar tracker solution to utility-scale customers around the world," Stephen G. Kaniewski, Valmont President and CEO.