Valmont Industries, Inc. (NYSE:VMI) and Ericsson AB entered into definitive agreement to acquire a majority stake in ConcealFab Corporation on April 27, 2022. Valmont Industries, Inc. will acquire 51% stake in ConcealFab for approximately $41 million, net of cash acquired. Ericsson increases its ownership in ConcealFab and will reinvest their ConcealFab equity and hold a minority position in the new company.

The transaction will be funded with cash on hand. ConcealFab team will join the Valmont Team. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2022.

The transaction is expected to be immediately accretive to earnings, with Year-1 revenue of approximately $50 million.