Simpson Completes Acquisition of European Competitor
Simpson Manufacturing Co., Inc. (the "Company" or "Simpson") (NYSE:SSD), an industry leader in engineered structural connectors and building solutions, today announced the successful completion of its previously announced acquisition of the ETANCO Group ("ETANCO"), a leading designer and manufacturer of fixing and fastening solutions for the European building construction market, for €725 million (approximately $800 million(1)), net of cash. For the 12 months ending September 30, 2021, ETANCO's net sales and operating income margin were approximately €258 million(2) (approximately $291 million(2)) and 19.7%(2), respectively.
"ETANCO is a highly successful and profitable company with a 70-year history and well-established brand and market position," said Karen Colonias, Chief Executive Officer of Simpson Manufacturing Co., Inc. "We believe its extensive and complementary product offering will strengthen our overall product portfolio in Europe, enabling us to deliver even more value to our customers."
"ETANCO and Simpson have a very similar DNA as we've both built our business on high-quality products and unmatched customer service. Collectively, we can expand and optimize our European footprint while introducing new products to our combined customer base," said Ronan Lebraut, President of ETANCO Group.
"We are excited to welcome ETANCO employees to Simpson and look forward to growing the business together," added Colonias.
For additional information about the acquisition, please reference the Current Reports on Form 8-K filed with the Securities and Exchange Commission (the "SEC") on December 29, 2021 and January 31, 2022 and the investor presentation and press release issued on December 29, 2021, available on the Company's website at ir.simpsonmfg.com as well as the Current Report on Form 8-K filed with the SEC today, April 7, 2022.