ACQUISITION: Simpson Strong-Tie Buys Swan Secure Products

Jason Sandefur

Simpson Manufacturing Co., Inc. announced that its subsidiary, Simpson Strong-Tie Co. acquired Swan Secure Products Inc., a manufacturer and distributor of stainless steel and other fasteners, for $43.5 million in cash.
Simpson Strong-Tie designs, engineers and manufactures wood-to-wood, wood-to-concrete and wood-to-masonry connectors and fastening systems and pre-fabricated shearwalls, as well as adhesives, mechanical anchors and powder actuated tools for concrete, masonry and steel.
Simpson Strong-Tie”s parent company, Pleasanton, CA-based Simpson Manufacturing, reported net sales dropped 10.4% to $193.2 million during the first quarter of 2007, hampered by sluggish U.S. sales. Q1 net income decreased 31.3% to $17.3 million. Web: simpsonmfg.com \ �2007 FastenerNews.com