Gibraltar Industries, in a move to bolster its presence in the greenhouse market, has acquired a Colorado greenhouse manufacturer in a $25 million deal.
The acquisition of Nexus Corp. will add about $30 million to Gibraltar's annual sales and expand its position in the greenhouse market that it established through its acquisition last year of Rough Brothers, an Ohio company that is the biggest greenhouse manufacturer in North America.
"We expect our combined efforts will enable us to invest further in developing advanced structures and environmental control products for the greenhouse industry.," said Frank Heard, Gibraltar's CEO, in a statement Tuesday.
Nexus mainly makes greenhouse products with steel and aluminum structures for the institutional and commercial markets.
The all-cash deal closed on Tuesday. Nexus' controlling shareholders, Mike Porter and Cheryl Longtin, are retiring.