Covert Operations is a Respected Manufacturer of Specialty Anchoring Products; Asset Acquisition Broadens USP Structural Connectors Product Line, Strengthens Market Presence
MINNEAPOLIS, Minn., (February 16, 2004) - USP Structural Connectors, a Gibraltar Company (Nasdaq: ROCK), announced today that is has acquired the assets of Covert Operations, Inc., a manufacturer of epoxies and crack injection systems for concrete and masonry and the DUC Ductile Undercut anchors . The Covert product line has been used on projects ranging from small residential applications to billion-dollar public transportation projects since the company was formed in 1989 by Vicki Covert.
"This acquisition will enhance USP Structural Connectors' presence in the commercial industry and will also serve to round out our product offering in the residential market, especially of highly specified products such as engineered holdown systems for framing attachment to footings and foundations," said Robert Brunson, President of USP Structural Connectors.
"The fact that Covert Operations is an engineer-driven company that provides full technical expertise for the engineering community as well as excellent field support for the installer complements USP Structural Connectors' strategy, so this is a very good fit for our long-term objectives," said Mr. Brunson.
"The management team, led by the founder Vickie Covert, has steadily grown the business over the last 15 years, and we are pleased she has agreed to stay with the company and work with us to accelerate its growth," said Mr. Brunson.
More information is available by visiting www.USPconnectors.com or contacting Barry Ashwell, Vice President, Sales and Marketing at 507/364-7333.
About Gibraltar
Gibraltar is one of North America's leading metal processors, a manufacturer of more than 5,000 steel, other metal, and plastic products, and North America's second-largest commercial heat treater. The Company serves approximately 10,000 customers in a variety of industries in all 50 states, Canada, and Mexico. It has approximately 3,900 employees and operates 68 facilities in 26 states, Canada, and Mexico.
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