You might also like
AZZ Inc. is a leading industrial company specializing in metal coatings and coil coating solutions for corrosion protection and aesthetic enhancement. The company serves diverse end-markets, including construction, appliances, HVAC, containers, and transportation, primarily in North America. AZZ also holds a minority interest in infrastructure solutions focused on power transmission and industrial applications.
- Precoat Metals - Applies protective and decorative coatings to steel and aluminum coils, serving industries such as construction, appliances, HVAC, containers, and transportation.
- Metal Coatings - Provides hot-dip galvanizing, spin galvanizing, powder coating, anodizing, and plating services for corrosion protection, primarily catering to the North American steel fabrication industry.
- Infrastructure Solutions - Focuses on power transmission and automated weld overlay solutions for corrosion and erosion mitigation, with AZZ holding a 40% non-controlling interest in the AVAIL JV.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Thomas E. Ferguson ExecutiveBoard | President and CEO | None | CEO since 2013, previously interim CEO at FlexSteel Pipeline Technologies and held leadership roles at Flowserve Corporation. Recognized for driving growth and acquisitions. | |
Jason Crawford Executive | Senior Vice President and CFO | None | CFO since June 2024, previously VP of Finance at Precoat Metals. Extensive experience in mergers and acquisitions and financial leadership. | |
Jeff Vellines Executive | President and COO, Precoat Metals | None | President of Precoat Metals since March 2024, previously SVP of Commercial Operations at Precoat Metals. Expertise in sales and strategic planning. | |
Kurt Russell Executive | Senior Vice President and Chief Strategic Officer | None | Joined AZZ in 2022 as COO of Precoat Metals. Former President of Precoat Metals at Sequa Corporation. Focuses on strategic growth initiatives. | |
Carol R. Jackson Board | Director | Director at Sensient Technologies Corporation | Director since 2021. Former CEO of HarbisonWalker International. Expertise in global business operations, industrial manufacturing, and public board experience. | |
Clive A. Grannum Board | Director | Director at Boys and Girls Clubs of Greater Saint Louis; MediNova N.Y. | Director since 2021. Former President at Materion Corporation and held leadership roles at Dow Chemical and Olin Corporation. Expertise in manufacturing and strategic growth. | |
Daniel E. Berce Board | Director and Chair of Audit Committee | CEO of General Motors Financial; Director at FirstCash, Inc.; Chairman of Arlington Asset Investment Corp. | Director since 2000. Extensive experience in corporate governance, accounting, and financial expertise. Former CFO and CEO of AmeriCredit Corp.. | |
Daniel R. Feehan Board | Chairman of the Board | Director at Enova International Inc.; Chairman of FirstCash, Inc. | Chairman since 2019, director since 2000. Former CEO of Cash America International. Expertise in finance, accounting, and corporate governance. | |
Ed McGough Board | Director | Senior VP of Global Manufacturing and Technical Operations at Alcon, Inc. | Director since 2017. Extensive experience in global manufacturing and supply chain management. Senior VP at Alcon, overseeing pharmaceutical plants worldwide. | |
Steven R. Purvis Board | Director | Trustee for Fort Worth Employees Retirement Fund; Trustee to LKCM Funds | Director since 2015. Over 35 years of public market investment experience. Former Principal at Luther King Capital Management. |
- Given that some projects are being delayed due to tariff uncertainties and steel supply issues, potentially slowing revenue in the fourth quarter, how is AZZ preparing to mitigate these risks and ensure revenue stability in the upcoming fiscal year?
- With competitors like Valmont and Hill & Smith adding new galvanizing kettles, and companies like SDI introducing additional paint lines, what strategies are you implementing to maintain or grow your market share in the face of increasing industry capacity?
- While you've emphasized a disciplined capital allocation strategy focused on both debt reduction and evaluating potential acquisitions, how do you balance these priorities, and what criteria will determine your focus between further deleveraging versus pursuing M&A opportunities?
- In light of the choppy markets and potential for overcapacity in the Precoat Metals segment due to new entrants, what specific actions are you taking to sustain growth and profitability, and how are you addressing the challenges of increased competition?
- Considering the dependency on infrastructure and construction projects that may experience delays from regulatory changes or cost escalations, what steps are you taking to diversify your revenue streams or reduce the impact of such delays on your financial performance?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Precoat Metals | 2022 | **AZZ Inc. completed the acquisition of Precoat Metals on May 13, 2022 for approximately $1.3 billion, funded via a Term Loan B and Subordinated Convertible Notes. The deal strategically positions AZZ to enhance its metal coil coating services through Precoat’s 13 manufacturing facilities and expects immediate accretion to adjusted earnings, with recorded goodwill of about $534.6–$547.9 million. |
Steel Creek Galvanizing Company, LLC | 2021 | **The acquisition of Steel Creek Galvanizing was completed on December 31, 2021, for around $25.0 million, expanding AZZ’s Metal Coatings segment geographically into the Southeast. The deal integrates a privately held hot-dip galvanizing company with detailed asset allocations—including goodwill deductible for income tax purposes—to broaden AZZ’s operational footprint. |