Simpson Manufacturing Co., a provider of engineered structural connectors and building solutions, announced that it has submitted a binding offer with exclusivity to acquire the Etanco Group for approximately $818 million (€725 million).
Etanco is a designer, manufacturer, and distributor of fixing and fastening solutions for the building construction market, which includes innovative fasteners, connectors, anchors and safety solutions for roofing, cladding, façade, waterproofing and solar applications.
“Etanco fits within Simpson’s acquisition strategy of strengthening our business by expanding our product lines, developing complete solutions, growing our market share, and improving both our manufacturing capabilities and efficiencies,” said said Karen Colonias, president and CEO of Simpson Manufacturing. In addition, our ability to leverage Etanco’s commercial building business further balances Simpson’s product portfolio and directly aligns with our key growth initiatives focused on expanding into commercial building offerings and building a leadership position in fastener solutions.”
For the 12 months ended September 30, 2021, Etanco’s net sales and operating income margin were about $291 million and 19.7%, respectively. The acquisition is expected to close near the end of the first quarter of 2022 and is anticipated to be accretive to the company’s earnings within the first full fiscal year after closing.
“We are very pleased to join the Simpson team and look forward to participating in their growth plans for the future,” said Ronan Lebraut, CEO of Etanco Group. “Etanco and Simpson share the same core values of providing high-quality products and customer service, and we view this partnership as a great opportunity to broaden our product lines and further our customer and market reach.”