Worthington Industries announced its plan to acquire the assets of three companies, which would then be folded into its pressure cylinder-making operations.
The Columbus, OH-based company will buy assets of Piper Metal Forming, U.S. Respiratory, and Pacific Cylinders Inc. Financial terms of the deal, set to close in the next 30 days, weren't disclosed.
The new assets will boost its industrial gas products and mark its entry into the market for medical products.
Piper, the company said, makes aluminum high-pressure cylinders along with steel and aluminum parts. U.S. Respiratory assembles and distributes that company’s medical cylinder products, while Pacific runs distribution on the West coast. Worthington said the companies brought in about $30 million in revenue last year.
CEO John P. McConnell called the deal a "natural extension of our focus on growing our highly successful pressure-cylinder business."
The company added that the new assets will boost its industrial gas products and mark its entry into the market for medical products.