Nucor Corporation announced that it 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 employs 300 teammates at two manufacturing facilities in Wisconsin.
“Rytec is a leader in high-performance commercial doors and serves several growing end-user markets. 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,” said Leon Topalian, Chair, President and CEO of Nucor.
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.
The company has invested significantly in technology and automation to improve quality, increase efficiency and enhance safety.