Gibraltar Acquires The D.S. Brown Company

BUFFALO, N.Y. -- Gibraltar Industries, Inc., a leading manufacturer and distributor of products for building and industrial markets, has completed its previously announced acquisition of The D.S. Brown Company, an Ohio-based manufacturer of expansion joints, structural bearings and pavement sealants for bridges, highways and other infrastructure projects, from Altus Capital Partners, Inc.

BUFFALO, N.Y. -- Gibraltar Industries, Inc., a leading manufacturer and distributor of products for building and industrial markets, has completed its previously announced acquisition of The D.S. Brown Company, an Ohio-based manufacturer of expansion joints, structural bearings and pavement sealants for bridges, highways and other infrastructure projects, from Altus Capital Partners, Inc.

As previously reported, Gibraltar expects the acquisition to be immediately accretive to non-GAAP earnings, excluding acquisition and other one-time costs, and to be accretive on a GAAP basis in the first 12 months of combined operations. In business for 100 years, D.S. Brown has a five-year compound annual growth rate of 10% and reported sales of approximately $65 million for calendar year 2010.

"This transaction is an important incremental step forward in our strategy to focus on building and industrial end markets and to acquire businesses with a record of strong growth, that provide value-added products, and are clear leaders in their markets," said

Gibraltar Chairman and Chief Executive Officer Brian Lipke. "D.S. Brown positions Gibraltar at a higher level in the product value chain, and enables us to broaden our participation in building market categories with solid growth characteristics. We welcome the D.S. Brown employee team into the Gibraltar family and look forward to realizing our potential to create increased shareholder value as a combined organization."

"D.S. Brown is highly regarded as a provider of engineered, function-critical products for the bridge and highway industry," said Gibraltar President and Chief Operating Officer Henning Kornbrekke.

"We expect these products to play an increasingly important role in the rebuilding of America's transportation infrastructure - and in Gibraltar's sales, margins and cash flow - in the years ahead."

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