OEMs

Nucor to buy commercial door manufacturer Rytec for $565M

Written by Laura Miller

June 3, 2024

Nucor Corp. is adding another commercial door manufacturer to its growing portfolio of downstream companies.

Charlotte, N.C.-based Nucor announced on Monday that it has agreed to purchase Rytec Corp. for $565 million in cash.

Rytec produces high-speed, high-performance commercial doors at its two Wisconsin manufacturing facilities. The company’s rolling doors are used in warehouses, manufacturing facilities, auto dealerships, and parking garages.

According to Nucor’s chair, president, and CEO, Leon Topalian, the acquisition expands Nucor’s strategy of expanding beyond its core steelmaking assets into related downstream businesses.

“Adding high-performance doors will create cross-selling opportunities with other Nucor businesses and greatly expand Nucor’s product portfolio serving the commercial arena,” Topalian said in a statement, noting that “Rytec has a strong cultural fit with Nucor.”

Chad Utermark, Nucor’s EVP of new markets and innovation, added that Rytec’s “products are a natural platform for expanding Nucor’s overhead door product suite.”

“The combination of Rytec with CHI Overhead Doors will create an overhead platform that will deliver superior product breadth and solutions to Nucor’s commercial customers,” Udermark said.

Nucor completed its $3 billion acquisition of CHI Overhead Doors in 2022.

Other downstream acquisitions the company had made more recently include its 2021 purchase of steel racking solutions provider Hannibal Industries, and its 2022 buy of steel racking manufacturer Elite Storage Solutions. Nucor combined those companies to create its Nucor Warehouse Systems division.

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held a variety of positions within the steel industry since 2007, including reporting and editing for Steel Business Briefing/Platts, the Association for Iron and Steel Technology, and Kallanish Commodities, as well as marketing for what was then known as ThyssenKrupp Steel USA (now AM/NS Calvert). After a five-year hiatus working across other industries, she returned to steel in 2021 and has covered the flat rolled, tubular, and trade areas of the industry. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.

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