AZZ completed the acquisition of Precoat Metals from Carlyle-backed Sequa for $1.28bn.

AZZ, a provider of galvanizing and metal coating solutions, completed the acquisition of Precoat Metals, an independent provider of metal coil coating solutions in North America, from Carlyle-backed Sequa, a provider of services for the aerospace and metal coating segments, for $1.28bn. "Today we welcome the 1.1k employees of Precoat to the AZZ family and begin the work of swiftly integrating Precoat into AZZ while leveraging the opportunities this acquisition creates. As I have previously stated, this acquisition significantly broadens our metal coatings offering, creating unrivaled scale and breadth of solutions in both the prepainted and post-fabrication coatings markets. We believe the coil coating market will provide sustainable future growth for AZZ, and we are excited to add a talented leadership team that shares similar values as well as employee and customer focus as we do at AZZ. This acquisition is consistent with our previously communicated strategy prioritizing North American coatings targets with strong strategic fit that are accretive within the first year of operation, and it is a testament to our commitment to drive profitable growth. This acquisition represents a continued transition of AZZ from a diverse holding company to a focused provider of coating and galvanizing services for critical applications," Tom Ferguson, AZZ CEO.