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
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