Valmont and Ericsson Close Acquisition of ConcealFab

Rhea-AI Summary

Valmont Industries, Inc. (NYSE: VMI) has completed its acquisition of a majority interest in ConcealFab, a leader in 5G infrastructure solutions. This strategic move aims to enhance Valmont's telecommunications strategy by integrating ConcealFab's innovative technologies into its product offerings. The partnership with Ericsson, which holds a minority position, is expected to leverage shared expertise and accelerate growth in the telecom sector. ConcealFab's established relationships and rapid growth will bolster Valmont's position in the RF and PIM markets.

Positive

• Acquisition of ConcealFab enhances Valmont's telecom strategy with innovative 5G infrastructure.
• Partnership with Ericsson expected to drive growth and market expansion.
• ConcealFab's rapid growth and established relationships will support future expansions.

Negative

• None.

OMAHA, Neb.--(BUSINESS WIRE)-- Valmont Industries, Inc. (NYSE: VMI), a global leader that provides vital infrastructure and advances agricultural productivity while driving innovation through technology, today announced the closing of its previously-announced agreement to acquire a majority interest in ConcealFab, an industry leader in 5G infrastructure and passive intermodulation (PIM) mitigation solutions. Ericsson, a global leader in 5G technology, has also reinvested their ConcealFab equity and holds a minority position in ConcealFab.

The acquisition advances Valmont’s Telecom strategy by incorporating innovative 5G infrastructure and PIM mitigation solutions into its advanced infrastructure portfolio.

“Closing the acquisition cements the next phase of Valmont’s infrastructure strategy, particularly in the telecommunication space,” said Aaron Schapper, group president, Infrastructure. “The shared knowledge and expertise between Valmont, Ericsson, and ConcealFab will elevate our ability to meet the integrated telecommunication needs of the future and will accelerate our growth strategy.”

Founded in 2007 in Colorado Springs, CO., ConcealFab has been recognized as one of the fastest-growing companies in the Telecom industry. ConcealFab’s first-to-market innovative solutions, customer-centric strategy, and established partnerships with wireless operators, utilities, and major OEMs have played a key role in their rapid growth and will continue to support future expansion. Combined with Valmont and Ericsson’s portfolio of products, services, and manufacturing footprint, the acquisition provides the opportunity to immediately accelerate expansion in the concealment, PIM solutions, and RF markets.

About Valmont Industries, Inc.

For over 75 years, Valmont^® has been a global leader in creating vital infrastructure and advancing agricultural productivity. Today, we remain committed to doing more with less by innovating through technology. Learn more about how we’re Conserving Resources. Improving Life.^® at valmont.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220601005204/en/

Renee Campbell

Renee.Campbell@valmont.com

Source: Valmont Industries, Inc.

FAQ

What is the significance of Valmont's acquisition of ConcealFab?

The acquisition enhances Valmont's telecommunications strategy by integrating advanced 5G infrastructure and PIM solutions.

How will the acquisition affect Valmont's growth?

The acquisition is expected to accelerate Valmont's growth in the telecom sector by leveraging ConcealFab's innovative technologies.

What is the role of Ericsson in the acquisition of ConcealFab?

Ericsson has reinvested its equity in ConcealFab and holds a minority position, facilitating collaboration and growth opportunities.

When was the acquisition of ConcealFab announced?

The acquisition was announced prior to its closing, with details provided in a press release on June 1, 2022.

What markets will Valmont target after acquiring ConcealFab?

Valmont aims to target the concealment, PIM solutions, and RF markets following the acquisition.