Gibraltar Acquires B&W Heat Treating
Gibraltar, Buffalo, N.Y., acquired B&W Heat Treating, a Kitchener, Ontario-based commercial heat treater, for cash and Gibraltar stock. Terms of the acquisition were not disclosed. B&W Heat Treating, formed in 1945, had 2001 sales of approximately $15.5 million (in Canadian dollars). It operates two facilities (both in Kitchener, with approximately 140,000 square feet of combined space), employs approximately 120 people, and serves more than 250 North American companies in the automotive, heavy equipment, electrical appliance, agricultural, mining and defense industries, among others. The entire management team of B&W has agreed to stay with the company. It is the eighth acquisition Gibraltar has made in the commercial heat-treating business since February 1996.