"Culturally, we couldn't be more similar, and we believe bringing both companies together is a great fit," said Bob Daniels, president of Quanex North American Fenestration.
LMI long has empowered its people to do the best work possible for their customers, and that's something we're committed to continuing," Daniels added. "What they bring to the table will help augment everything we do, bringing a new breadth of compounds that we can use to enhance what we offer to our customers."
LMI has been one of Quanex's important vendors for a long time, he said.
"We're confident their expertise will help us solidify and enhance our portfolio of solutions in the areas in which we do business today," Daniels said. "And as we seek to diversify, the LMI team will be essential in allowing us to develop innovative new compounds and meet our growth goals."
Wilson noted that as applications become more complex in the industry, the ability to address new markets that develop will be a major plus.
"We think that by bringing more compounds to customers, LMI will continue to serve those in complex markets. And we will be able to help fund that growth."
He added that the acquisition will complement and expand Quanex's butyl and silicone solutions expertise, too, enabling the company to diversify into key new markets and delivering an enhanced experience to LMI customers in North America.
In addition to its unique compounding capabilities, Wilson said, LMI offers excellent technical service, customer service and product delivery.