Worthington Enterprises acquires Elgen Manufacturing for ~$93M in cash

WORTHINGTON ENTERPRISES, INC.

Acquisition of Elgen (HVAC parts/ductwork) closed June 18, 2025; $93M purchase funded from existing cash.
Elgen generated trailing-12-month net sales of $114.9M and EBITDA of $13.3M (as of April 30, 2025).
Elgen employs ~250 people at Closter, NJ; CEO David Young and leadership team remain.
Elgen will operate within Worthington's Building Products segment, expanding HVAC components portfolio.
Deal expected to create synergies via Worthington's domestic footprint, manufacturing expertise, and purchasing power.

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