The transaction is still subject to customary closing conditions and is expected to be finalised in August this year.
Tyman is an international supplier of hardware and sealing solutions for doors and windows as well as access solutions for the construction industry. Headquartered in London, the group employs around 3,600 people and has subsidiaries in 15 countries worldwide. The brand portfolio is distributed via three regional business units in Europe, the UK and Ireland, and North America.
The Quanex Group's presence in the European market includes its subsidiary Edgetech Europe, a provider of foam-based, metal-free spacer systems based in Heinsberg, North Rhine-Westphalia. “The integration of the high-quality Tyman brand portfolio brings us a major step closer to our strategic goal of creating a leading solution provider of building products with a more diverse geographical presence, a broader product range and a larger customer base. We will also benefit internally from the expanded engineering, design and manufacturing capabilities,“ said George Wilson, Chairman, President and Chief Executive Officer of Quanex.
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Quanex is a global manufacturer with core competences and a wide range of applications in various end markets. The company works with leading OEMs to provide innovative solutions in the areas of windows, doors, plastic fencing, solar panels, refrigerators and cabinets. In the future, Quanex plans to leverage its material science and process engineering expertise to expand into adjacent markets.
Tyman is a leading international supplier of technical window components and access solutions for the construction industry. The Group designs and manufactures products that improve the comfort, sustainability, security and aesthetics of residential and commercial buildings. Tyman's portfolio is distributed through three regional divisions (North America, UK, Ireland and Europe) and includes hardware and sealing solutions for doors and windows as well as access solutions for roofs, walls and floors.