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Nucor Acquires High-Performance Door Manufacturer Rytec

Push To Open Doors

Jun 16, 2024

Strategic Expansion into High-Performance Commercial Door Market Valued at $565 Million

Nucor Corporation has finalized an agreement to purchase Rytec Corporation, a prominent producer of high-speed, high-performance commercial doors. The acquisition, an all-cash transaction, is valued at $565 million, which is roughly 12.5 times Rytec’s anticipated EBITDA for 2024. Rytec employs 300 people across two manufacturing sites in Wisconsin.

Rytec is recognized for its high-performance commercial doors and serves several rapidly growing markets. Leon Topalian, Chair, President, and CEO of Nucor, emphasized that this acquisition aligns with Nucor’s strategic goal of expanding beyond its core steelmaking operations into complementary downstream businesses. According to Topalian, integrating high-performance doors into Nucor's portfolio will create cross-selling opportunities with existing businesses and significantly broaden Nucor's product range for the commercial sector.

Rytec's product line includes high-speed Spiral rigid rolling doors suitable for warehouses, manufacturing plants, auto dealerships, and parking structures. Additionally, they produce robust fabric doors for cold storage, food and beverage sectors, manufacturing, and clean room applications.

The company has heavily invested in technology and automation, aiming to enhance product quality, increase operational efficiency, and improve safety standards.

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