Radius Track Corporation sells Ready Products line to Simpson Manufacturing Co., Inc.
Radius Track, the expert in designing, engineering and fabricating sub-systems for curved and complex building surfaces, has sold its jobsite framing tools and hand-bendable framing product lines to Simpson Strong-Tie, a division of Simpson Manufacturing Inc, for an undisclosed sum in a deal advised by BCMS.
Minneapolis-based Radius Track decided to sell its Ready Products and Radius Tools lines of light-gauge steel curved framing solutions after conducting a strategic review of its business segments and its desire to focus on delivering solutions for building surfaces with geometric complexity.
The Ready Products (Ready-Hat®, Ready-Track®, Ready-Arch® and Ready-Angle®) are hand-bendable curved framing solutions for light-gauge steel invented by Radius Track owner Chuck Mears and introduced to the market in 2004 The Radius Tools (Radius Track Bender® and Radius Trim Bender™) are portable curved framing hand tools enabling the user to curve CFS framing to create curved walls and soffits quickly and accurately on the jobsite.
Simpson Strong-Tie, a leading manufacturer of structural building products for more than 60 years, is headquartered in Pleasanton, CA. The strategic acquisition is expected to help Simpson Strong-Tie expand its offering of solutions for cold-formed steel construction.
Simpson Strong-Tie General Manager of Concrete Construction Products Jeremy Gilstrap said: “We are excited about acquiring these product lines from Radius Track to continue to expand our offering of CFS framing solutions to new and existing customer. This acquisition aligns with our value proposition of being the trusted provider of building solutions to the construction industry.”
The acquisition includes designs, tooling and patents for the Ready Products and Radius Tools product lines. No Radius Track employees will be transferred under the deal.
Radius Track was advised by BCMS with legal support from Chamberlain Hrdlicka. The price and terms remain undisclosed.
BCMS Senior Vice President Andrew Wood added: “Radius Track charged us with finding a buyer with a national footprint to take these innovative products to the next level. There were several responses, however the strongest offer came from a buyer who was looking for a strategic addition to their portfolio rather than merely expanding the depth of similar product lines. This result confirms our conviction that you have to look outside the obvious to find the right buyer for any business. We are all delighted to have helped find a new home for the Ready Products and Radius Tools product lines and wish both parties all the best in the future.”