Valmont Acquires Industry-Leading Provider of Wireless Concealment Solutions
OMAHA, Neb., Jan. 2, 2019 /PRNewswire/ -- Valmont Industries, Inc. (NYSE: VMI), a leading global provider of engineered products and services for infrastructure development and irrigation equipment and services for agriculture, today announced that it has acquired the operational assets of Larson Camouflage, the industry-leading provider of architectural and camouflage concealment solutions for the wireless telecommunication market. The transaction was funded with cash on hand. The Company expects that fiscal 2019 revenue from the acquisition will range between $18 million and $22 million, and expects earnings per share accretion of approximately $0.07.
Located in Tucson, Arizona, Larson pioneered the wireless concealment industry by developing and building the first Mono-Pine camouflaged cellular tower. As the recognized industry leader, their innovative engineering capabilities, product quality, and attention to aesthetic detail have led to growth and differentiation across all major wireless carriers.
"The addition of Larson Camouflage concealment solutions to our portfolio is an exciting advancement of our growth strategy in the wireless communication market," said Stephen G. Kaniewski, President and CEO of Valmont. "5G implementation demands more network densification, leading to growth in macro sites and small cell deployments. Proximity to urban areas will require innovative concealment solutions to enhance the visual appeal of small cell applications. Combining Larson's creative solutions with our global manufacturing footprint, sales team, and customer base allows us to provide an integrated concealment solution to wireless communication customers around the world. At our 2018 Investor Day, we shared our strategy of delivering creative, integrated solutions in support of 5G expansion. The Larson team is well-positioned to meet this growing demand, and we are excited to welcome them to Valmont."
More information about Larson Camouflage can be found at www.larsonconcealment.com.
About Valmont
Valmont is a global leader, designing and manufacturing engineered products that support global infrastructure development and agricultural productivity. Its products for infrastructure serve highway, transportation, wireless communication, electric transmission, and industrial construction and energy markets. Its irrigation equipment and services for large-scale agriculture improves farm productivity while conserving fresh water resources. In addition, Valmont provides coatings services that protect against corrosion and improve the service lives of steel and other metal products.
CONTACT: Renee Campbell, 402-963-1057
