Nucor announces purchase of Illinois overhead door maker
CHARLOTTE, N.C. (AP) — Nucor Corp. is buying an Illinois-based overhead door manufacturer for $3 billion in a deal expected to close in June, the company announced on Monday.
In a news release, the Charlotte-based steel manufacturer said it has entered into an agreement to purchase C.H.I. Overhead Doors from global private equity firm Kohlberg Kravis Roberts & Co.
C.H.I. makes overhead door products for residential and commercial use, as well as rolling steel and rubber doors for commercial and industrial customers. The company has approximately 800 employees in two manufacturing plants in Arthur, Illinois, and Terre Haute, Indiana, and regional warehouses located in California, Colorado, New Hampshire and New Jersey.
The purchase is the latest in a series for Nucor. The Charlotte Observer reports that last August, Nucor completed a $1 billion acquisition of two insulated metal panel brands from Cary-based Cornerstone Building Brands. Last month, Nucor acquired steel racking manufacturer Elite Storage Solutions for $75 million, and also announced a new micro steel mill in Lexington.
Nucor employs about 800 people in North Carolina and almost 27,000 workers throughout its more than 300 facilities in the U.S., Canada and Mexico, the company says on its web page.