Bonnell Aluminum acquires AACOA Inc. in $50 million transaction
Tredegar Corp. announced that its subsidiary, Bonnell Aluminum, has acquired AACOA, Inc., the Elkhart, Ind., manufacturer of aluminum extrusions. The approximate purchase price of $50.8 million was funded using financing under Tredegar’s existing $350 million credit facility, according to an October 1 release.
AACOA employs about 500 people and operates production facilities in Elkhart, Ind., and Niles, Mich. According to the release, the acquisition will add fabrication capabilities to Bonnell’s current array of products and services while providing AACOA with large press capabilities and enhanced geographic sales coverage in a variety of end-use markets.
“We have been actively searching for an acquisition that meets our stated goals for expanding into markets outside of building and construction," said Duncan Crowdis, president of Bonnell Aluminum, in the release. "In AACOA, we found a top-quality manufacturer that will help us move toward our strategic objectives for both growth and diversification. By leveraging our combined capabilities in extruding, anodizing and fabrication, we will be able to offer high quality products and services to a large base of customers and have the opportunity to profitably grow in attractive industry segments.”