AZZ Inc. announced today that it has acquired all the assets and outstanding shares of K2 Partners, Inc. (K2), a privately held company. K2 provides powder coating and electroplating services to customers in the Midwest and Southeast from locations in Texas and Florida. 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 coating operations of Centrix Powder Coating in Tampa, Florida and the powder coating and electroplating operations of Cimcon Finishing in Garland, Texas. Going forward, the facility in Tampa will operate as AZZ Powder Coating – Tampa and the location in Garland will operate as AZZ Powder Coating and Plating – Garland. The acquisition increases AZZ's Metal Coatings network of plants to 44 sites in the United States and Canada.
Michael Doucet, Senior Vice President of AZZ's Surface Technologies platform commented, "The acquisition of K2 expands our geographical reach in metal coating services and broadens our service offerings in strategic markets. The K2 facility in Texas is ideally located to increase our ability to service customers in Texas and into the Midwest, while their operation in Florida expands AZZ's capability to provide metal coating services to customers in the Southeast. We are pleased to welcome K2's employees to AZZ and look forward to a seamless integration while providing customers with expanded services through our network of metal coating plants."
AZZ Inc. is a global provider of metal coating services, welding solutions, specialty electrical equipment and highly engineered services to the power generation, transmission, distribution and industrial markets.