Simpson makes acquisition in North Carolina
Pleasanton, Calif.-based Simpson Manufacturing Co. subsidiary Simpson Strong-Tie agreed to acquire substantially all of the assets of North Carolina-based Automatic Stamping.
The price tag was an aggregate of $41.4 million, plus the value at closing of inventory and accounts receivable.
Automatic Stamping manufactures and sells a line of high-quality truss-connector plates primarily in the United States. The transaction is expected to close in December 2011 or January 2012.
Simpson Strong-Tie designs, engineers and manufacturers wood-to-wood, wood-to-concrete and wood-to-masonry connectors and fastening systems, stainless steel fasteners and pre-fabricated shearwalls.