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Mergers & Acquisitions

Nucor to Acquire Rytec for $565 million

Rytec logo
June 7, 2024

Nucor Corporation has entered into an agreement to acquire Rytec Corporation, a manufacturer and seller of high-speed, high-performance commercial doors. 

The all-cash transaction is valued at $565 million, which represents approximately 12.5 times Rytec's estimated 2024 EBITDA. Rytec has more than 300 employees operating out of two manufacturing facilities in Wisconsin.

"Rytec is a leader in high-performance commercial doors and serves several growing end-user markets,” says Leon Topalian, chair, president and CEO of Nucor. “This acquisition further executes our strategy to expand beyond our core steelmaking businesses into related downstream businesses. Adding high-performance doors will create cross-selling opportunities with other Nucor businesses and greatly expand Nucor's product portfolio serving the commercial arena. Rytec has a strong cultural fit with Nucor, and we are excited to welcome the Rytec teammates to the Nucor family."

Rytec produces high-speed Spiral rigid rolling doors for warehouses, manufacturing facilities, auto dealerships and parking garages, as well as durable fabric doors for cold storage/food and beverage, manufacturing and clean room applications. 

"We are excited to work with the incredible team at Rytec,” says Chad Utermark, executive VP of new markets and innovation for Nucor. “Their products are a natural platform for expanding Nucor's overhead door product suite. Rytec has established itself as the premier brand in high-performance commercial doors, with a strong reputation for quality and best-in-class customer service. The combination of Rytec with C.H.I. Overhead Doors will create an overhead door platform that will deliver superior product breadth and solutions to Nucor's commercial customers.”

KEYWORDS: doors mergers and acquisitions

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