Fort Worth-based AZZ Inc. (NYSE: AZZ) announced Sept. 30 it has acquired all the assets of Preferred Industries Ltd.,, 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., a global provider of metal coating solutions, welding solutions, specialty electrical equipment and highly engineered services, announced today that it
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. Going forward, AZZ intends to operate the facilities as AZZ Surface Technologies – Terrell, and AZZ Surface Technologies - Rowlett, and will integrate them with six existing powder coating and plating operations the company operates in the area.
Michael Doucet, Senior Vice President of AZZ Surface Technologies commented, "We are pleased with the acquisition of Preferred Industries, as we continue to execute on our strategic plan to broaden our service offerings and expand our network of Surface Technology plants. AZZ now operates eight coating and plating operations in the Dallas-Fort Worth area. We welcome Preferred Industries' employees and customers to AZZ and look forward to a seamless integration."