Gibraltar Announces Acquisition Of TerraSmart And Sunfig - Quick Facts

(RTTNews) - Gibraltar Industries, Inc. (ROCK) announced the acquisitions of TerraSmart and Sunfig. The company acquired TerraSmart, a provider of screw-based, ground-mount solar racking technology, for $220 million. Gibraltar also acquired Sunfig, a provider of software solutions that optimize solar energy investments, for $3.75 million. The company anticipates the combined transactions to be immediately accretive to earnings.

"Adding TerraSmart and Sunfig to our existing solar business significantly increases our presence in the $14.3 billion domestic solar energy market, strengthens our renewable energy platform, and advances our ambition to deliver higher growth and returns," said CEO Bill Bosway.