Nucor Acquires Rytec Corp. The Manufacturer Of High-Performance Commercial Doors For $565M In Cash
Portfolio Pulse from Benzinga Newsdesk
Nucor Corporation (NYSE:NUE) has announced the acquisition of Rytec Corporation, a leading manufacturer of high-performance commercial doors, for $565 million in cash. The deal is valued at approximately 12.5x Rytec's estimated 2024 EBITDA.
June 03, 2024 | 1:19 pm
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Nucor Corporation has acquired Rytec Corporation for $565 million in cash, enhancing its product portfolio with high-performance commercial doors. The acquisition is valued at approximately 12.5x Rytec's estimated 2024 EBITDA.
The acquisition of Rytec Corporation by Nucor Corporation is likely to have a positive short-term impact on NUE's stock price. The deal expands Nucor's product offerings and is valued at a reasonable multiple of Rytec's estimated 2024 EBITDA, indicating potential for future growth and profitability.
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