Market Segment
June 24, 2022
Nucor Completes $3B Acquisition of C.H.I. Overhead Doors
Written by David Schollaert
Nucor Corp. completed its $3 billion acquisition of C.H.I. Overhead Doors from KKR & Co. Inc.
C.H.I. is a manufacturer of residential and commercial overhead and rolling doors, also known as garage doors. It serves US and Canadian markets.
The deal expands the Charlotte, N.C.-based steelmaker’s long-term strategy to expand its manufacturing model to provide end-market solutions to the construction and infrastructure markets, Nucor president and CEO Leon Topalian said.
“We are very excited to welcome our C.H.I. teammates to the Nucor team… a natural fit with our capabilities,” he said. “We look forward to working with their senior management team to execute the next phase of growth for C.H.I. and Nucor.”
“For all C.H.I. teammates and dealer partners, the opportunity to be part of Nucor going forward offers great potential for continued growth, supply-chain continuity and new business collaboration,” C.H.I. CEO Dave Bangert said.
C.H.I. has approximately 800 employees across manufacturing plants in Arthur, Ill., and Terre Haute, Ind., as well as in regional warehouses located in California, Colorado, New Hampshire, and New Jersey.
By David Schollaert, David@SteelMarketUpdate.com
