Nucor Corporation has announced that it has completed its acquisition of C.H.I. Overhead Doors (C.H.I.) from KKR & Co. Inc. (NYSE: KKR) for $3.0 billion. C.H.I. is a manufacturer of overhead doors for residential and commercial markets in the United States and Canada.
“We are very excited to welcome our C.H.I. teammates to the Nucor team,” said Leon Topalian, President and Chief Executive Officer of Nucor Corporation. “They have built a tremendous business with strong growth prospects that is a natural fit with our capabilities. We look forward to working with their senior management team to execute the next phase of growth for C.H.I. and Nucor.”
“For all C.H.I. teammates and dealer partners, the opportunity to be part of Nucor going forward offers great potential for continued growth, supply-chain continuity, and new business collaboration,” said Dave Bangert, who has served as CEO of C.H.I. since 2016 and will continue to lead the business. “This is an exciting day for everyone associated with C.H.I. as we aspire to be a vibrant member of the Nucor family living our collective culture.”
C.H.I. manufactures overhead door products for residential and commercial applications, as well as rolling steel and rubber doors for commercial and industrial customers. The company has approximately 800 teammates across two manufacturing plants in Arthur, Illinois, and Terre Haute, Indiana, and regional warehouses located in California, Colorado, New Hampshire, and New Jersey.