Texas-based metal coating company, AZZ has sold its AZZ SMS operating unit to Mid-State Machine and Fabricating Corp. for an undisclosed price. In a recent Security Exchange Commission (SEC) filing, AZZ said that it expects a positive impact of about $35mn on its financial position from the sale, in line with its strategic plan to focus on core business units.
Mid-State is Florida-based enterprise and has assumed the 26,155sq ft AZZ SMS facility in St. Petersburg, Florida. It plans to maintain the current SMS team and ensure continued service to the latter’s customers post the acquisition.
AZZ acquired SMS in 2013 as a component of Acquilex Specialty Repair and Overhaul’s assets. AZZ is a global provider of metal coating solutions including hot-dipped galvanizing. Mid-State, on the other hand, is a provider of industrial maintenance and service solutions.