Gibraltar Industries Acquires SolarBOS to Expand Position in Renewable Energy Market
August 23 2018 - 08:30AM
Business Wire
Provider of Solar Balance of Systems to
Complement RBI’s Integrated Solar Racking and Engineering
Solutions
Gibraltar Industries, Inc. (Nasdaq: ROCK), a leading
manufacturer and distributor of building products for the
residential, industrial, infrastructure, and renewable energy and
conservation markets, today announced that it has acquired
California-based SolarBOS, a privately held provider of electrical
balance of systems products for the U.S. solar renewable energy
market in an all cash transaction. On a trailing 12-month basis,
SolarBOS reported revenue of $13.5 million. The acquisition is
expected to be accretive beginning in 2019 following integration in
2018.
“SolarBOS’ deep understanding of solar electric systems and
high-voltage DC applications will expand our integrated solar
racking and engineering solutions and provide complementary
offerings to our existing customers,” said Gibraltar Chief
Executive Officer Frank Heard. “In line with our acquisition
strategy, we expect the addition of SolarBOS to provide Gibraltar
with a distinct competitive advantage and strengthen Gibraltar’s
position in the U.S. solar renewable energy market. We welcome the
SolarBOS team to the Gibraltar family.”
About GibraltarGibraltar Industries is a leading
manufacturer and distributor of building products for the
residential, industrial, infrastructure, and renewable energy and
conservation markets. With a four-pillar strategy focused on
operational improvement, product innovation, portfolio management
and acquisitions, Gibraltar’s mission is to drive best-in-class
performance. Gibraltar serves customers primarily throughout North
America and to a lesser extent Asia. Comprehensive information
about Gibraltar can be found on its website at
www.gibraltar1.com.
Safe Harbor StatementInformation contained in this news
release, other than historical information, contains
forward-looking statements and is subject to a number of risk
factors, uncertainties, and assumptions. Risk factors that could
affect these statements include, but are not limited to, the
following: the availability of raw materials and the effects of
changing raw material prices on the Company’s results of
operations; energy prices and usage; changing demand for the
Company’s products and services; changes in the liquidity of the
capital and credit markets; risks associated with the integration
and performance of acquisitions; and changes in interest and tax
rates. In addition, such forward-looking statements could also be
affected by general industry and market conditions, as well as
macroeconomic factors including government monetary and trade
policies, such as tariffs and expiration of tax credits along with
currency fluctuations and general political conditions. Other risks
and uncertainties that arise from time to time are described in
Item 1A “Risk Factors” of the Company’s Annual Report on Form 10-K.
The Company undertakes no obligation to update any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as may be required by applicable law or
regulation.
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version on businesswire.com: https://www.businesswire.com/news/home/20180823005376/en/
Gibraltar Industries, Inc.Timothy Murphy, 716-826-6500 ext.
3277Chief Financial Officertfmurphy@gibraltar1.com
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