On April 5, Easton, Pennsylvania-based pipe joining systems manufacturer Victaulic announced its acquisition of Horizon Metals Inc. Financial details of the transaction were not disclosed.
Founded in 1992, Horizon Metals is an iron and steel foundry in Nephi, Utah. The acquisition supports Victaulic’s growth in the infrastructure and waterworks markets by increasing capacity for large-diameter piping solutions, according to a news release.
“A major aspect of Victaulic’s business strategy has always been to manufacture products in close proximity to our customers,” Victaulic President and CEO Rick Bucher said in the release. “Like our Tennessee Metal Fabricating acquisition last year, the purchase of Horizon Metals demonstrates our continuous commitment to this strategy by expanding our growth and service capabilities to our valued North American customers.”
Horizon Metals is Victaulic’s fifth foundry in North America, according to the release. Since 2011, Victualic has added over 1.4 million square feet of foundry and manufacturing capacity in North America. Victaulic operates 40 facilities and employs more than 4,500 globally.