Nucor completed the acquisition of CHI Overhead Doors from KKR for $3bn.

Nucor, a manufacturer of steel and steel products, completed the acquisition of CHI Overhead Doors, a manufacturer of overhead doors for residential and commercial markets, from KKR, a global investment firm for $3bn. "Acquiring CHI is another step in our long-term strategy to expand into areas that are a natural extension of our business and leverage our efficient manufacturing model. CHI is a highly profitable organization built with an amazing team and culture. It has consistently proven its strength and competitive advantages due to its broad product suite, very short lead times, robust delivery infrastructure and focused customer service Acquiring CHI allows Nucor to further enhance its already diverse range of businesses that provide end market solutions to the construction and infrastructure markets. As with the acquisitions Nucor made in the past year in insulated metal panels and racking, CHI increases the overall long-run value of the organization with businesses that have strong free cash flow characteristics, robust growth prospects and fit with Nucor's capabilities," Leon Topalian, Nucor President and CEO.