Steel Mills
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/media/k2/items/src/4831de9e20805c36c626879be5810d6e.jpg)
Nucor to Acquire C.H.I. Overhead Doors for $3 Billion
Written by David Schollaert
May 16, 2022
Nucor Corp. has agreed in principle to acquire C.H.I. Overhead Doors for $3 billion.
C.H.I. is a leading manufacturer of residential and commercial overhead and rolling doors serving US and Canadian markets, and an affiliate of investment funds managed by Kohlberg Kravis Roberts & Co. L.P. (KKR).
The transaction value represents approximately 13x C.H.I.’s estimated trailing twelve-month EBITDA and is expected to close in June or shortly thereafter, the company said.
“Acquiring C.H.I. is another step in our long-term strategy to expand into areas that are a natural extension of our business and leverage our efficient manufacturing model,” Nucor president and CEO Leon Topalian said. “Acquiring C.H.I. allows Nucor to further enhance its already diverse range of businesses that provide end market solutions to the construction and infrastructure markets.”
The latest move by the steelmaker is in line with its recent acquisitions and diversification into the insulated metal panels (CENTRIA, Metl-Span, and TrueCore) and racking industries (Hannibal Industries and Elite Storage Solutions). Topalian said the move increases Nucor’s “overall long-run value” with businesses that not only fit with the company’s capabilities but have “robust growth prospects.”
C.H.I. has approximately 800 teammates across manufacturing plants in Arthur, Ill., and Terre Haute, Ind., as well as regional warehouses located in California, Colorado, New Hampshire and New Jersey.
The overhead door market is a growing, $5 billion market, Nucor said. C.H.I.’s addition will complement Nucor’s recent string of investments in the value-added warehousing and retail sectors. And it will directly benefit from Nucor’s recent paint line investments at its Hickman, Ark., and Crawfordsville, Ind., sheet mills.
“We believe C.H.I. has great potential to not only continue but accelerate its history of growth and bring supply chain efficiencies by leveraging Nucor’s footprint and existing product channels,” Topalian said.
By David Schollaert, David@SteelMarketUpdate.com
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/02/SMU_DS_headshot.png-150x150.jpg)
David Schollaert
Read more from David SchollaertLatest in Steel Mills
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/stelco.png)
Steel Summit 2024: Stelco CEO reflects on strategy, growth, and sale to Cleveland-Cliffs
In a candid fireside chat with SMU Senior Analyst/Editor David Schollert, Stelco’s CEO Alan Kestenbaum opened up about Stelco’s pending sale to Cliffs, his business strategy, outlook for the industry, and plans for the future. The chat took place on Tuesday, Aug. 24, at the 2024 SMU Steel Summit in Atlanta.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/AISI.png)
AISI: US steel shipments unchanged in July vs. June, down on-year
Domestic steel shipments remained nearly flat in July month over month but fell from a year earlier.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/white_house.png)
Media reports: Biden could block USS sale on national security concerns
President Joe Biden could block the $15-billion sale of U.S. Steel to Japan's Nippon Steel by citing national security concerns That’s according to reporting in the Washington Post and the Financial Times that was later picked up by the New York Times as well as in wire services.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/US_Steel.png)
USS threatens to cut ‘thousands’ of jobs, move HQ if Nippon sale blocked
U.S. Steel could slash thousands of jobs, shift away from integrated steelmaking, and move its headquarters out of Pittsburgh if its acquisition by Nippon Steel isn’t completed, the company’s top executive said. “We want elected leaders and other key decision makers to recognize the benefits of the deal was well as the unavoidable consequences if the deal fails,” company President and CEO David Burritt said in a statement on Wednesday.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/SSAB.png)
CRU: SSAB to expand Mobile plate mill
SSAB plans to spend $12 million to boost production capacity at its electric-arc furnace (EAF) plate mill in Mobile, Ala. The Sweden-based steelmaker will do that by expanding the existing furnace there. Shot blast equipment will also be upgraded. The expanded capacity is expected to come online late next year. The mill currently has an […]