AZZ Inc. (NYSE: AZZ), a global provider of metal coatings services, welding solutions, specialty electrical equipment and highly engineered services to the power generation, transmission, distribution and industrial markets announced today that it has completed the purchase of certain assets of Lectrus Corporation pursuant to the Court entering the Sale Order on March 20, 2018. The Chattanooga, Tennessee facility of Lectrus was included in the assets acquired by AZZ Enclosure Systems – Chattanooga LLC, a Delaware limited liability company. The purchase price was $8 million plus certain cure costs pursuant to the Bankruptcy Code, which amount to approximately $215,000.
About Lectrus Corporation
Founded in 1968, Lectrus Corporation is an industry leader in the design and manufacture of custom metal enclosures and related electrical and mechanical integration. The company serves a blue-chip base of businesses that operate within the oil and gas, power generation, transmission and distribution, petrochemical, and alternative energy markets. Lectrus's custom-designed and fabricated enclosures serve a variety of end-uses, including equipment centers, generator enclosures, operator centers, and enclosures that protect electrical power and mechanical control systems.
About AZZ Inc.
AZZ Inc. is a global provider of metal coating services, welding solutions, specialty electrical equipment and highly engineered services to the markets of power generation, transmission, distribution and industrial in protecting metal and electrical systems used to build and enhance the world's infrastructure. AZZ's Metal Coatings Segment is a leading provider of metal finishing solutions for corrosion protection, including hot dip galvanizing to the North American steel fabrication industry. AZZ's Energy Segment is dedicated to delivering safe and reliable transmission of power from generation sources to end customers, and automated weld overlay solutions for corrosion and erosion mitigation to critical infrastructure in the energy markets worldwide.
