On Monday, Nucor Corp. (NUE) announced its agreement to acquire Rytec Corp., a company known for its high-speed commercial doors, in an all-cash deal valued at $565 million.
Nucor highlighted that the transaction is equivalent to approximately 12.5 times Rytec's projected EBITDA for 2024.
Leon Topalian, Nucor's Chairman, President, and CEO, stated, "The addition of high-performance doors will create cross-selling opportunities with other Nucor businesses and significantly expand Nucor's product portfolio in the commercial sector."
Currently, NUE's stock is trading at $168.32, down 0.24% on the New York Stock Exchange.
