Gibraltar Steel has acquired a new line of solar-powered ventilation products in a $5 million deal that expands the offerings of its new construction and remodeling product lines.
The Hamburg-based building materials manufacturer said it acquired the product line from a Nevada-based supplier that it did not identify. The product line had $4 million in sales last year.
Company officials could not be reached to comment.
“Adding this solar ventilation product line will strengthen our position within the growing energy conservation segment of the building materials market space,” Brian Lipke, Gibraltar’s chairman and chief executive officer, said in a statement announcing the acquisition.
“It not only broadens our product category coverage immediately, but also provides us with access to innovative technology for future product designs, as well as opportunities to grow the business through marketing of additional products to established Gibraltar customers,” he said.
Gibraltar’s stock closed up 3 cents, at $13.90 Thursday.