US: Rough Brothers is sold to Gibraltar Industries
Gibraltar Industries has acquired all of the outstanding shares of privately held RBI Solar, Inc., Rough Brothers Manufacturing Inc., and affiliates (collectively “RBI”) for $130 million, subject to adjustments, in a transaction that will enable the Gibraltar to leverage its expertise in structural metals manufacturing and materials sourcing to meet fast-growing global demand for solar racking solutions.
Capitalizing on its 80 years of design-build experience and leadership as a large greenhouse manufacturer in North America, Ohio-based RBI has established itself during the past five years as North America’s fastest-growing provider of photovoltaic (PV) solar racking solutions. The global market for PV solar racking is estimated at $9.3 billion annually and is forecasted to grow at a 14% CAGR in the next four years, with the North American market estimated at $1.2 billion and forecasted to grow 9.8% annually over the next four years, according to Wolf Research LLC. RBI’s revenues were $164 million in 2014, two-thirds from sales of solar racking solutions.
Source: businesswire.com