AZZ Inc. to Acquire Precoat Metals from Sequa Corporation

AZZ Inc. announced a definitive agreement to acquire Precoat Metals, a division of Sequa Corporation (a Carlyle portfolio company), for approximately $1.28 billion. The acquisition is expected to be immediately accretive to AZZ's adjusted earnings per share and significantly enhances its scale in the metal coatings market.

“AZZ Inc. (“AZZ” or the “Company”) (NYSE: AZZ), a global provider of galvanizing and metal coating solutions, welding solutions, specialty electrical equipment and highly engineered services for maintaining and building critical infrastructure, and Sequa Corporation (“Sequa”), a portfolio company of global investment firm Carlyle (NASDAQ: CG), jointly announced today that they have entered into a definitive agreement whereby AZZ will acquire Sequa’s Precoat Metals business division (“Precoat”) for a purchase price of approximately $1.28 billion.”

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