Gibraltar Industries paid $50 million to acquire a California company that makes centrifugal ethanol-based extraction systems that are used to produce botanical oil extracts.
The acquisition of Delta Separations is the second purchase that the Hamburg-based company has made in the processing market, following its $12.6 million purchase in August 2019 of Ohio-based Apeks Supercritical, which makes cannabis extraction equipment. Delta's products are sold to cannabis, hemp and biomass producers.
Those deals, combined with Gibraltar's greenhouse business, extend the company's push into the developing cannabis industry.
Delta had $46 million in sales last year and Gibraltar said the acquisition is expected to add to its profits this year.