LSI Group Acquires Florida Company
📅 Thu May 25, 2017 - Midwest Edition
Alex Brown/Inside Indiana Business
(L to R) LSI Group CEO Robert Baker and Roof Hugger President Dale Nelson.
Logansport-based LSI Metal Building Components Group Inc. has acquired Florida-based Roof Hugger Inc. Financial terms of the deal were not disclosed, however LSI Group Chief Executive Officer Robert Baker says the acquisition helps the company achieve its goal of expanding into the retrofit roof and wall markets.
As part of the acquisition, Roof Hugger will become an affiliate of LSI Group. Roof Hugger, which recently celebrated its 25th anniversary, manufactures components for retrofitting existing metal roofs. The company's offices will remain in Florida.
"This acquisition is a perfect advancement in the long-term plan for Roof Hugger to grow beyond our original dreams for the company", said Dale Nelson, president of Roof Hugger. "It creates an ideal corporate team to advance the long term goals of both entities."
Baker says the deal has created a small number of jobs at the LSI Metal Fabrication facility in Peru. He says the acquisition has already and will continue to increase sales at the facility.
LSI Group says Nelson will continue as president of Roof Hugger in addition to serving as chairman of the Metal Construction Association.
For more information, visit http://url.ie/11swz.
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