Quanex to Acquire Vinyl Extrusion Peer T.H.I.D. Group

TL;DR

Quanex is buying T.H.I.D. Group to boost its vinyl extrusion business.

AI Summary

Quanex Building Products Corporation announced on May 30, 2024, that it has entered into a definitive agreement to acquire T.H.I.D. Group, a leading manufacturer of vinyl window and door profiles. The acquisition is expected to close in the third quarter of fiscal 2024, subject to customary closing conditions. This strategic move aims to expand Quanex's product offerings and geographic reach in the vinyl extrusion market.

Why It Matters

This acquisition will allow Quanex to enhance its position in the vinyl extrusion market by adding complementary products and expanding its customer base.

Risk Assessment

Risk Level: medium — The acquisition is subject to customary closing conditions, and integration risks are inherent in any M&A activity.

Key Players & Entities

• Quanex Building Products Corporation (company) — Registrant
• T.H.I.D. Group (company) — Acquisition Target
• Delaware (jurisdiction) — State of incorporation
• May 30, 2024 (date) — Date of earliest event reported
• 713-961-4600 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share NX New York Stock Exchang

Filing Documents

• tm2416999d1_8k.htm (8-K) — 36KB
• 0001104659-24-070486.txt ( ) — 207KB
• gnw-20240530.xsd (EX-101.SCH) — 3KB
• gnw-20240530_lab.xml (EX-101.LAB) — 33KB
• gnw-20240530_pre.xml (EX-101.PRE) — 22KB
• tm2416999d1_8k_htm.xml (XML) — 4KB

01. Other Events

Item 8.01. Other Events As previously announced on April 22, 2024, Quanex Building Products Corporation ("Quanex") reached an agreement on the terms of a recommended acquisition of Tyman plc ("Tyman") (the "Transaction"). The Transaction is intended to be implemented by means of a scheme of arrangement (the "Scheme") under Part 26 of the UK Companies Act 2006, as amended, sanctioned by the High Court of Justice in England and Wales. The United Kingdom Competition and Markets Authority responded to a briefing paper submitted by Quanex in respect of the Transaction to indicate that it has, at such time, no further questions related to the Transaction. Additionally, as of June 11, 2024 the waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, has now expired in respect of the Transaction. The Transaction remains subject to other closing conditions, including approval of the Scheme by Tyman's stockholders and an approval by Quanex's stockholders of the issuance of shares in the Transaction. Quanex expects the Transaction to close in the second half of 2024.

Forward Looking Statements

Forward Looking Statements This Current Report on Form 8-K contains certain "forward-looking statements". These statements are based on the current expectations of the management of Quanex and are naturally subject to uncertainty and changes in circumstances. The forward-looking statements include statements relating to the expected effects of the Transaction. Forward-looking statements include statements typically containing words such as "will", "may", "should", "believe", "intends", "expects", "anticipates", "targets", "estimates" and words of similar import and including statements relating to future capital expenditures, expenses, revenues, economic performance, financial conditions, dividend policy, losses and future prospects and business and management strategies and the expansion and growth of the operations of Quanex following completion of the Transaction. Although Quanex believes that the expectations reflected in such forward-looking statements are reasonable, Quanex can give no assurance that such expectations will prove to be correct. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by such forward looking statements. These factors include: the possibility that the Transaction will not be completed on a timely basis or at all, whether due to the failure to satisfy the conditions of the Transaction (including approvals or clearances from regulatory and other agencies and bodies) or otherwise, general business and economic conditions globally, industry trends, competition, changes in government and other regulation, changes in political and economic stability, disruptions in business operations due to reorganization activities, interest rate and currency fluctuations, the inability of the combined company to re

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Quanex Building Products Corporation Date: June 11, 2024 By: /s/ Scott Zuehlke Name: Scott Zuehlke Title: SVP, CFO and Treasurer

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View this 8-K filing on SEC EDGAR