Valmont (VMI) Acquires Locker Group Holdings; Sees Deal Slightly Accretive

February 5, 2013 7:50 AM EST
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Valmont Industries, Inc. (NYSE: VMI) has acquired privately-held Locker Group Holdings Pty Ltd., a market leader in Australia and Asia for the manufacture of perforated and expanded metal for the non-residential market, industrial flooring and handrails for the access systems market, and screening media for applications in the industrial and mining sectors.

Locker Group has annual sales of approximately $80 million and operates five manufacturing locations across the region.

After consideration for transaction costs, the Company expects the acquisition to be slightly accretive to 2013 earnings.

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