Volume 40, Issue 11 November 2005
Sun Capital to Acquire Indalex Aluminum Solutions
Sun Capital Partners has reached a definitive agreement to acquire Indalex Aluminum Solutions Group from Honeywell Inc. for a total value of $425 million. The transaction is subject to regulatory approval and is expected to close in the fourth quarter of this year.
Indalex is a North American supplier of extruded aluminum components and services for the building and construction industry, among others.
According to a company announcement, Sun Capital will continue to operate Indalex as an independent business. Indalex’s executive management team will remain in place. The acquisition also includes a 25 percent equity position in Asia Aluminum Group of China.
Indalex says it will continue to offer international options to customers as a “natural extension of its North America-wide manufacturing network.”
“The acquisition by Sun Capital is an excellent fit for Indalex,” said Tim Stubbs, Indalex chief executive officer. “Sun has considerable management expertise in the manufacturing sector, including the metals industry. The combination of the management support and financial resources that this acquisition brings to Indalex will be invaluable as we continue to pursue our growth plans. For us, it is business as usual,” he added.
Graco Inc. has purchased the stock of Gusmer Corp. based in Lakewood, N.J., and the stock of Gusmer Europe S.L., based in Vilanova, Spain.
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