Gibraltar Completes Acquisition of Omnimax International

BUFFALO, N.Y.–(BUSINESS WIRE)–Gibraltar Industries, Inc. (Nasdaq: ROCK), a leading manufacturer and provider of products and services for the residential, agtech, and infrastructure markets, today announced that it has closed its acquisition of OmniMax International (“OmniMax”) from funds managed by Strategic Value Partners, LLC and its affiliates following receipt of all required regulatory approvals and satisfaction of customary closing conditions. The all-cash transaction was valued at $1.335 billion, subject to customary adjustments.

“We heartily welcome OmniMax’s talented management and operating teams and valued customer base to Gibraltar. The combination of our complementary brands, product portfolios and footprints expands our presence in our largest and highly profitable residential segment, creates a more optimal operating platform and opens new opportunities in our existing swim lanes, leapfrogging our building products growth strategy ahead by years,” said Bill Bosway, Chairman and Chief Executive Officer of Gibraltar. “We now anticipate the Residential segment will represent over 80% of our total revenue and adjusted EBITDA, positioning Gibraltar as a scaled, high-performing platform in residential building products.

“We have assembled an experienced integration team and are now diving into our plan to deliver $27 million of cost synergies, strong cash flow and working capital savings with a clear path to deleveraging to 2.0 – 2.5x within 24 months and $35 million of cost synergies by the end of year three. We are very excited about this transformational opportunity and look forward to bringing additional value and enhanced experience to our combined customers.”

OmniMax is an industry leader in residential roofing accessories and rainwater management solutions. The company operates a diversified portfolio of established brands, including Amerimax, Berger, Flamco, Verde, Millennium Metals, Nu-Ray Metals, and Hancock Enterprises, supported by longstanding relationships with major building-product distributors and home-improvement retailers. OmniMax maintains manufacturing operations across the United States and Canada. OmniMax remains on track with respect to expected performance.

“The closing of this transaction represents an exciting new chapter for OmniMax,” said John Krause, Chief Executive Officer of OmniMax. “By joining Gibraltar, we gain access to a broader operating and customer platform, enhanced resources for innovation, and expanded distribution capabilities. Our teams are committed to seamlessly integrating with Gibraltar while maintaining the quality, reliability, and customer service that our partners and end-users expect from us.”