Quanex Building Products Corporation announced the successful completion of the acquisition of the British Tyman Group on 1 August 2024. This strategic merger will create a more diversified building products supplier with global reach and an expanded product portfolio. The new company will be able to further strengthen its leading position in the market and expand its range of specialised solutions for OEMs in the construction industry.
Strengthening market position through expanded offering
‘We are pleased to welcome the Tyman team,’ said George Wilson, Chairman, President and CEO of Quanex. ‘The acquisition accelerates our growth and enhances our value proposition. The new scale and reach will allow us to further strengthen our leadership position by providing specialised engineered components to OEMs.’
See also: For the first time ever: Grey Superspacer, grey edge seal
Tyman: a global player with 3,600 staff
Tyman, a leading supplier of hardware and sealing solutions, employs around 3,600 people worldwide. The London-based group operates in markets across Europe, the UK, Ireland and North America, delivering innovative solutions for doors, windows and building access.
Integration and future plans of Quanex
Quanex (approx. 3950 employees) is already represented in Europe by its subsidiaries Edgetech Europe and Edgetech UK, which specialise in warm edge spacer solutions for insulating glass production. The integration of Tyman is expected to be 50 % completed within the first 12 months. Quanex expects the acquisition to be significantly earnings accretive within the first year of completion.
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A global manufacturer with a vision for the future
Quanex is an international manufacturer that works with leading OEMs to provide innovative solutions for various markets. With the acquisition of Tyman, the company plans to extend its competences into adjacent markets and further expand its portfolio.
