Gibraltar Industries Inc. has made an acquisition to strengthen its business in the lucrative oil and gas industry in Western Canada.
The Buffalo-based manufacturer of building and industrial products (NASDAQ: ROCK) said Tuesday it has bought the metal grating fabrication and distribution business of privately held Edvan Industries Inc. Terms of the deal were not disclosed. Edvan had 2011 sales of approximately $5 million.
The Edmonton, Alberta-based company has had a long relationship with a Gibraltar subsidiary, AMICO, dating to 1978.
"Acquiring Edvan Industries' metal grating business solidifies our position in one of North America's fastest-growing areas for oil and gas production," said Gibraltar Chairman and CEO Brian Lipke. "Adding its metal grating products business assets and outstanding employee team to Gibraltar's provides us with a stronger, more vertically integrated presence in a market that we have strategically targeted for growth."
Gibraltar officials noted the Western Canada oil sands region represents approximately $120 billion in current oil and gas projects.