Gibraltar Industries Acquires SolarBOS to Expand Position in Renewable Energy Market
Gibraltar Industries, Inc. (Nasdaq: ROCK), a leading manufacturer and distributor of building products for the residential, industrial, infrastructure, and renewable energy and conservation markets, today announced that it has acquired California-based SolarBOS, a privately held provider of electrical balance of systems products for the U.S. solar renewable energy market in an all cash transaction. On a trailing 12-month basis, SolarBOS reported revenue of $13.5 million. The acquisition is expected to be accretive beginning in 2019 following integration in 2018.
“SolarBOS’ deep understanding of solar electric systems and high-voltage DC applications will expand our integrated solar racking and engineering solutions and provide complementary offerings to our existing customers,” said Gibraltar Chief Executive Officer Frank Heard. “In line with our acquisition strategy, we expect the addition of SolarBOS to provide Gibraltar with a distinct competitive advantage and strengthen Gibraltar’s position in the U.S. solar renewable energy market. We welcome the SolarBOS team to the Gibraltar family.”
Gibraltar Industries is a leading manufacturer and distributor of building products for the residential, industrial, infrastructure, and renewable energy and conservation markets. With a four-pillar strategy focused on operational improvement, product innovation, portfolio management and acquisitions, Gibraltar’s mission is to drive best-in-class performance. Gibraltar serves customers primarily throughout North America and to a lesser extent Asia. Comprehensive information about Gibraltarcan be found on its website at www.gibraltar1.com.