Armstrong World Industries Acquires Tectum, Inc.
Armstrong World Industries, Inc., Lancaster, Pa., announced Jan. 16 the completion of its previously disclosed acquisition of the business and assets of Tectum, Inc. Tectum is a 65-year old Ohio-based manufacturer of acoustical ceiling, wall and structural solutions for commercial building applications, with annual revenues in excess of $25 million. The transaction includes two facilities in Newark and Columbus, Ohio. Tectum products will be sold through AWI’s Architectural Specialties business, under the Ceilings Solutions umbrella, one of AWI’s leading growth engines. The company expects to fund the acquisition with available cash.