India, June 19 -- Worthington Enterprises (WOR) on Thursday announced its acquisition of Elgen Manufacturing (Elgen) of Closter, New Jersey.
Worthington Enterprises acquired Elgen Manufacturing for approximately $93 million, funded with cash on hand. For the trailing 12 months ended April 30, 2025, Elgen generated net sales of $114.9 million and EBITDA of $13.3 million.
Elgen is a designer and manufacturer of HVAC parts and components, ductwork and structural framing primarily used in commercial buildings throughout North America.
Joe Hayek, president and chief executive officer, Worthington Enterprises, said, "The addition of Elgen aligns closely with our strategy to build and acquire businesses with leadership positions in niche market...