Closes Acquisition of TruSeal Technologies
Quanex Corp. announced
December 31 the closing of the stock purchase of Beachwood, Ohio-based
TruSeal Technologies from Kirtland Capital Partners for $113 million
in cash. The company says it financed the acquisition by borrowing
against its $310 million revolving credit facility.
"TruSeal is a leading manufacturer in its niche fenestration
market and the acquisition compliments our efforts to provide our
building product customers with a broader range of high-quality
components and products," said Raymond Jean, Quanex chairperson,
and chief executive officer.