M&A Deal Summary

Crenlo Engineered Cabs Acquires Worthington Industries Engineered Cabs

On November 5, 2019, Crenlo Engineered Cabs acquired manufacturer Worthington Industries Engineered Cabs from Worthington Enterprises

Acquisition Highlights
  • This is Crenlo Engineered Cabs’ 1st transaction in the Manufacturing sector.
  • This is Crenlo Engineered Cabs’ 1st transaction in the United States.
  • This is Crenlo Engineered Cabs’ 1st transaction in South Dakota.

M&A Deal Summary
Date 2019-11-05
Target Worthington Industries Engineered Cabs
Sector Manufacturing
Buyer(s) Crenlo Engineered Cabs
Sellers(s) Worthington Enterprises
Deal Type Divestiture

Target

Worthington Industries Engineered Cabs

Watertown, South Dakota, United States
Worthington Industries Engineered Cabs is a provider of engineered operator cabs for many of the world’s heavy equipment and off-highway vehicle manufacturers. Worthington Industries Engineered Cabs is based in Watertown, South Dakota.

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Buyer(S) 1

Buyer

Crenlo Engineered Cabs

Rochester, Minnesota, United States
Category Company
Founded 1951
Sector Manufacturing
DESCRIPTION

Crenlo Engineered Cabs is a manufacturer of highly engineered steel frame cab enclosures and rollover structures serving major OEM's in the construction, agriculture, and commercial equipment markets. The company also produces a proprietary line of electronic enclosures under its EMCOR trademark, which serves the commercial, telecom, datacom, test & measurement, broadcast, and security markets. Electronic enclosure capabilities range from standard & modified standard product offerings, to complete custom indoor or outdoor enclosure solutions. Crenlo Engineered Cabs was formed in 1951 and is based in Rochester, Minnesota.

DEAL STATS #
Overall 1 of 1
Sector (Manufacturing) 1 of 1
Type (Divestiture) 1 of 1
State (South Dakota) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-19 Emcor Enclosures

Rochester, Minnesota, United States

Emcor Enclosures has been serving the aerospace & defense, datacenter, industrial, medical, test & measurement, and custom OEM sectors for 70+ years with engineered electronics enclosures designed and manufactured. The company accelerates new product introduction timeframes with rapid prototyping and just-in-time delivery capabilities to ensure the best customer experience from concept design to volume production. Emcor Enclosures is based in Rochester, Minnesota.

Sell -

Seller(S) 1

SELLER

Worthington Enterprises

Columbus, Ohio, United States
Category Company
Founded 1955
Sector Metals/Mining
Employees4,000
Revenue 4.9B USD (2023)
DESCRIPTION
Entrance to Worthington Industries' corporate headquarters in Columbus, Ohio.
Entrance to Worthington Industries' corporate headquarters in Columbus, Ohio.

Worthington Enterprises is a diversified metal processing company. Worthington is a value-added steel processor and a leader in manufactured metal products such as metal framing, pressure cylinders, automotive past model service stampings, metal ceiling grid systems, and laser-welded blanks. Worthington Enterprises was founded in 1955 and is based in Columbus, Ohio.

DEAL STATS #
Overall 3 of 6
Sector (Manufacturing) 2 of 3
Type (Divestiture) 3 of 6
State (South Dakota) 1 of 1
Country (United States) 3 of 5
Year (2019) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-07 Heidtman Steel Products - Pickling and Slitting Facility

Cleveland, Ohio, United States

Heidtman’s 278,000 square-foot Cleveland facility, constructed in 2004, includes pickling and slitting of hot rolled carbon flat rolled steel for the automotive, heavy truck, agriculture and heavy equipment markets and is adjacent to the ArcelorMittal steel mill.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-02 Worthington Industries - Life Sciences Business

Theodore, Alabama, United States

Worthington Industries, Inc. - Life Sciences Business is a manufacturer of cryogenic stainless steel and aluminum storage freezers, dewars and shippers used to store biological specimens. The comp[any supplies high-quality products to the demanding global biomedical research and development, healthcare, biorepository, pharmaceutical, biotechnology, IVF, and animal breeding markets.

Sell -
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