Gibraltar Industries, making its second acquisition in a week to bolster its building products business, has acquired the Gutter Helmet product line from Tomkins Plc.
The acquisition gives Gibraltar Gutter Helmet's patented system that is installed over existing gutters to keep out leaves and other debris.
Gutter Helmet had $16 million in sales last year and is expected to immediately add to Gibraltar's profits, the company said. The terms of the deal were not disclosed.
The Gutter Helmet acquisition follows Gibraltar's $240 million deal on Wednesday to buy Alabama Metals Industries Corp., a Birmingham, Ala.-based metal building products manufacturer that had $285 million in sales last year.
Together, the deals will push sales from Gibraltar's building products business over the $800 million mark annually and make it the biggest segment in a company that now will have annual sales of about $1.4 billion.
The Gutter Helmet acquisition will bolster Gibraltar's line of rain-carrying products and give the company a leading position in that market, said Robert Brunson, the group president for Gibraltar's building products business.
Gibraltar moved into that market six years ago through its purchase of Weather Guard and Brunson said company officials believe there are "significant growth opportunities" for the rain-carrying products business.
The acquisition, announced late Friday, is Gibraltar's 24 since the company went public in 1993 and its second this year.