MEMPHIS, Tenn.--(BUSINESS WIRE)--Mueller Industries, Inc. (NYSE: MLI) announced today that it has acquired ATCO Rubber Products, Inc. (ATCO) for approximately $162.8 million. ATCO is an industry leader in the manufacturing and distribution of insulated HVAC flexible duct systems and will support the Company’s strategy to grow its Climate Products businesses to become a more valuable resource to its HVAC customers.
ATCO had revenues of approximately $166 million with 800 employees in its fiscal year ending December 31, 2017. The acquired business will be reported in Mueller’s Climate segment.
Mueller Industries, Inc. is an industrial manufacturer that specializes in copper and copper alloy manufacturing, while also producing goods made from aluminum, steel, and plastics. It is headquartered in Memphis, Tennessee and is comprised of a network of operations in the United States, Canada, Mexico, Great Britain, South Korea, and China. Its products include tubing, fittings, valves, vessels, and related items for plumbing and HVACR related piping systems, as well as rod, forgings, extrusions, and various components for OEM applications. Products are distributed into sectors such as building construction, appliance, defense, energy, and automotive.
Statements in this release that are not strictly historical may be “forward-looking” statements, which involve risks and uncertainties. These include economic and currency conditions, continued availability of raw materials and energy, market demand, pricing, competitive and technological factors, and the availability of financing, among others, as set forth in the Company’s SEC filings. The words “outlook,” “estimate,” “project,” “intend,” “expect,” “believe,” “target,” “encourage,” “anticipate,” “appear,” and similar expressions are intended to identify forward-looking statements. The reader should not place undue reliance on forward-looking statements, which speak only as of the date of this report. The Company has no obligation to publicly update or revise any forward-looking statements to reflect events after the date of this report.