Glaston to Acquire Bystronic Glass Group; Sells Tool Segment

Glaston Corp. has signed an agreement to acquire the Bystronic Glass Group, which is currently owned by Swiss industrial holding company Conzzeta AG.

According to the announcement, Bystronic has a comprehensive range of products, highly complementary to Glaston’s, for the architectural, automotive and display markets.

“I am very pleased to welcome Bystronic Glass’s highly professional
team to Glaston,” says Arto Metsänen, president and CEO of Glaston. “We
have followed the company for years and we are very impressed by the quality of its products and its transformation when it comes to both operational and financial performance. Together we will become a leading player in the glass processing technology market for the benefit of our customers. With our combined capabilities and expertise, we will be able to offer customers equipment, services and solutions from one supplier optimizing customer operations and driving customer value.”

“We are proud of our employees for delivering significant improvements over recent years,” adds Bystronic Glass CEO Burghard Schneider. “The transaction will open a new chapter to the benefit of all stakeholders. With enhanced systems-thinking and strengthened research and development capabilities we will shape the industry trends toward energy-efficient solutions and digital integration, jointly with our new colleagues from Glaston. Together we can serve our broad, global client base even better and we remain committed to deliver flat glass processing at its best in terms of productivity, quality and cost.”

The transaction is expected to close by the end of the first quarter of 2019, and is subject to regulatory approval. Glaston has secured committed debt and equity financing, subject to customary conditions and support of an extraordinary general meeting, respectively. Until the closing, Bystronic Glass and Glaston will continue to operate as two independent companies and the legal structure will remain unchanged.

In other news, Glaston is also selling its Glaston Tools Srl segment. Bavelloni SpA, a glass processing machinery company, has signed an agreement for the acquisition of 100 percent of those shares.

Glaston Tools, based in Bregnano, Italy, specializes in the production and sale of tools for glass and natural stone processing. Glaston Tools, which has been renamed Bavelloni Tools Srl, is an official supplier of tools for all Bavelloni machines, and has a staff of 39 people.

“The acquisition of Glaston Tools represents a milestone in the completion of Bavelloni’s product range,” says Roberto Califano, marketing director and partner of Bavelloni Spa. “This is an important goal allowing us to return to offering our customers the complete machine-tool synergy in which the Bavelloni brand has always believed since the beginning of its activity.”

Glaston and Bavelloni will also continue their partnership in the tools business, through distribution agreements with Glaston branches in Mexico, Singapore and Brazil.

Carlisle to Acquire Petersen Aluminum

Carlisle Companies Inc., a commercial and industrial building envelope products company, through its Carlisle Construction Materials (CCM) operating segment, has entered into a definitive purchase agreement to acquire Petersen Aluminum Corp., a privately held manufacturer of metal roofing products, for approximately $197 million.

Headquartered in Elk Grove Village, Ill., Petersen’s primary business is the manufacturing and distribution of architectural metal roof panels, steel and aluminum flat sheets and coils, wall panels, perimeter roof edge systems and related accessories for commercial, residential, institutional, industrial and agricultural markets. Founded by Maurice R. Petersen in 1965, the company, through its brand PAC-CLAD, has approximately $160 million of annual revenue.

“The acquisition of Petersen is part of our strategy of providing customers with a portfolio of high quality, innovative products and solutions that meet an increasing array of their building envelope needs. Petersen is an excellent fi t with our recent acquisitions in the metal roofing space, including Drexel Metals, Sunlast Metal and Premium Panels, as well as a significant complementary addition to our single-ply roofing systems …” says Chris Koch, CEO and president of Carlisle.

Upon completion of the transaction, the business will be reported as part of the CCM segment.

The companies are both in their quiet period and, as such, declined to comment on the acquisition.

Oldcastle BuildingEnvelope® Divests of Antamex

Oldcastle BuildingEnvelope® (OBE), part of CRH’s Building Products Division, has completed the divestment of Toronto-based Antamex International, its fenestration subcontracting business, to New York City-based private investment company O3 Industries.

“We are continuously evaluating our portfolio to align with our vision of being the leading supplier of glazing-focused interior and exterior products and services,” says Nathan Creech, OBE president. “This decision is another step in executing our strategy as we focus on our core business: manufacturing, fabricating and distributing architectural glass, metal, engineered systems, and glazing hardware and supplies.”

Antamex installs high-performance, customized façade solutions and provides engineering design services for commercial, institutional, high-end residential and mixed-use projects across North America.

“Antamex has a great reputation in the façade solutions industry. The opportunity to leverage this history with the experienced team in place is very exciting,” says Daniel Ozen, president of O3 Industries. “Antamex is perfect fit for our strategy of acquriing best-in-class businesses with top tier management. Between our entrepreneurial ownership style and Antamex’s world class team, we are looking forward to driving the business forward
and partnering with customers for further future success.”

“We are confident that O3 Industries is the right home for the Antamex business, its employees and customers,” adds Creech.

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