Benzinga | Dec 28, 2021 07:00AM EST

UFP Industries Acquires Ultra Aluminum Manufacturing For $25M

* UFP Industries Inc (NASDAQ:UFPI) subsidiary, Deckorators, Inc., has acquired Ultra Aluminum Manufacturing Inc., a manufacturer of aluminum fencing, gates, and railing, for $25 million.

* The transaction includes $2 million to be paid if specific future performance goals are met.

* Ultra designs and produces ornamental aluminum fence and railing products for contractors, landscapers, fence dealers, and wholesalers. The company had trailing 12-month sales through November 2021 of ~$46 million.

* The transaction adds aluminum fencing to UFP Industries' current vinyl and wood fencing lineup.

* Ultra President Russ Springborn and VP of Business Development Dave Stewart will continue in leadership roles.

* UFP Industries held cash and cash equivalents of $156.23 million as of September 2021.

* Price Action: UFPI closed higher by 2.54% at $89.96 on Monday.