Valmont Acquires Industry-Leading Provider of Wireless Concealment Solutions

OMAHA, Neb., Jan. 2, 2019 /PRNewswire/ -- Valmont Industries, Inc. (NYSE: VMI), a leading global provider of engineered products and services for infrastructure development and irrigation equipment and services for agriculture, today announced that it has acquired the operational assets of Larson Camouflage, the industry-leading provider of architectural and camouflage concealment solutions for the wireless telecommunication market. The transaction was funded with cash on hand. The Company expects that fiscal 2019 revenue from the acquisition will range between $18 million and $22 million, and expects earnings per share accretion of approximately $0.07.

Located in Tucson, Arizona, Larson pioneered the wireless concealment industry by developing and building the first Mono-Pine camouflaged cellular tower. As the recognized industry leader, their innovative engineering capabilities, product quality, and attention to aesthetic detail have led to growth and differentiation across all major wireless carriers.

"The addition of Larson Camouflage concealment solutions to our portfolio is an exciting advancement of our growth strategy in the wireless communication market," said Stephen G. Kaniewski, President and CEO of Valmont. "5G implementation demands more network densification, leading to growth in macro sites and small cell deployments. Proximity to urban areas will require innovative concealment solutions to enhance the visual appeal of small cell applications. Combining Larson's creative solutions with our global manufacturing footprint, sales team, and customer base allows us to provide an integrated concealment solution to wireless communication customers around the world. At our 2018 Investor Day, we shared our strategy of delivering creative, integrated solutions in support of 5G expansion. The Larson team is well-positioned to meet this growing demand, and we are excited to welcome them to Valmont."

More information about Larson Camouflage can be found at www.larsonconcealment.com.  

About Valmont

Valmont is a global leader, designing and manufacturing engineered products that support global infrastructure development and agricultural productivity. Its products for infrastructure serve highway, transportation, wireless communication, electric transmission, and industrial construction and energy markets. Its irrigation equipment and services for large-scale agriculture improves farm productivity while conserving fresh water resources. In addition, Valmont provides coatings services that protect against corrosion and improve the service lives of steel and other metal products.

This release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on assumptions that management has made in light of experience in the industries in which Valmont operates, as well as management's perceptions of historical trends, current conditions, expected future developments and other factors believed to be appropriate under the circumstances. As you read and consider this release, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (some of which are beyond Valmont's control) and assumptions. Although management believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect Valmont's actual financial results and cause them to differ materially from those anticipated in the forward-looking statements. These factors include among other things, risk factors described from time to time in Valmont's reports to the Securities and Exchange Commission, as well as future economic and market circumstances, industry conditions, company performance and financial results, operating efficiencies, availability and price of raw material, availability and market acceptance of new products, product pricing, domestic and international competitive environments, and actions and policy changes of domestic and foreign governments. The Company cautions that any forward-looking statement included in this press release is made as of the date of this press release and the Company does not undertake to update any forward-looking statement.

SOURCE Valmont Industries, Inc.