AZZ Inc. acquires all assets of Preferred Industries, sees accretion
AZZ Inc. announced that it has acquired all the assets of Preferred Industries, a privately held powder coating company in the Dallas-Fort Worth area. Preferred provides powder and e-coating services to the automotive, HVAC, marine, transportation, medical, industrial and plastics industries. Terms of the transaction were not disclosed. AZZ expects the acquisition will be accretive to earnings within the first year of operation. Through the acquisition, AZZ gains the powder and e-coating operations as well as employees of Preferred, which operates a 155,000 square foot facility in Terrell and an 89,600 square foot facility in Rowlett, Texas. Going forward, AZZ intends to operate the facilities as AZZ Surface Technologies - Terrell and AZZ Surface Technologies - Rowlett. AZZ will integrate them with six existing powder coating and plating operations the company operates in the area.