On August 1, 2024, Quanex Building Products Corporation announced that it had closed its acquisition of the British Tyman Group. The merger leads to the creation of a comprehensive, more diversified solutions provider in the building products industry, that offers greater scale and reach and an expanded product portfolio.
“We are excited to welcome the Tyman team. This transaction accelerates our growth and value creation by delivering best-in-class solutions for OEMs in the building products industry,” said George Wilson, Chairman, President and Chief Executive Officer of Quanex. “Through the acquisition of Tyman as a combined company, our scale and reach will enable us to build on our leading positions across an enhanced offering of differentiated engineered components.”
Tyman plc, based in London, employs around 3,600 people and supplies hardware and sealing solutions for doors and windows, as well as access solutions for the building products industry in Europe, the UK, Ireland as well as North America. Quanex is represented in the European market through subsidiaries such as Edgetech Europe and Edgetech UK. These specialists in warm-edge technology supply insulating glass manufacturers worldwide with the foam-based, metal-free Super Spacer® spacer systems.
According to Quanex’s management, approximately 50 percent of the integration should be completed within the first 12 months. The company expects the acquisition to be meaningfully accretive to earnings within the first full year after closing.