Bonnell Aluminum completes acquisition of Futura Industries
Wednesday, February 1, 2017
Posted by: Nancy Molenda
Updated February 23, 2017
Bonnell Aluminum has completed the acquisition of Futura Industries Corporation (“Futura”). The approximate purchase price of $92 million was funded using Tredegar’s existing revolving credit.
Futura will become an operating division of Bonnell Aluminum.
Futura, headquartered in Clearfield, Utah, with a national sales presence and particular strength in the western U.S., designs and manufactures a wide range of extruded aluminum products for a number of industries and end markets, including branded flooring trims and TSLOTS, as well as OEM components for truck grills, solar panels, fitness equipment and other applications. Futura has approximately 350 employees.
Commenting on the acquisition, Brook Hamilton, President of Bonnell Aluminum, stated, “Following our successful acquisition of AACOA in October 2012, we have been actively searching for another acquisition that meets our stated goals for broadening our served markets and value-added capabilities. In Futura, we have found a top-quality manufacturer with a very strong management team that will help us move toward our strategic objectives in both growth and diversification.”
Jared Bringhurst, president of Futura, stated, “We are thrilled to join forces with Bonnell Aluminum. The strong strategic fit extends to our similar customer-centric cultures and values, and this move provides an excellent platform for us to grow the business together.”
Read the Tredegar/Bonnell Aluminum release on the acquisition here.