Clearfield-based Futura Industries has been purchased by the William L. Bonnell Co. Inc., (Bonnell Aluminum) of Newnan, Georgia, for approximately $92 million. Upon closing, which is expected this month, Futura will become an operating division of Bonnell.
Futura has a national sales presence and particular strength in the western U.S. It designs and manufactures a wide range of extruded aluminum products for a number of industries and end markets, including branded flooring trims, OEM components for truck grills, solar panels, fitness equipment and other applications. Futura has approximately 350 employees and was founded in 1946.
“Following our successful acquisition of AACOA in October 2012, we have been actively searching for another acquisition that meets our stated goals for broadening our served markets and value-added capabilities,” said Brook Hamilton, president of Bonnell Aluminum. “In Futura, we have found a top-quality manufacturer with a very strong management team that will help us move toward our strategic objectives in both growth and diversification.”
Jared Bringhurst, president of Futura, said, “We are thrilled to join forces with Bonnell Aluminum. The strong strategic fit extends to our similar customer-centric cultures and values, and this move provides an excellent platform for us to grow the business together.”
Bonnell is a subsidiary of Tredegar Corp., a manufacturer of plastic films and aluminum extrusions and is headquartered in Richmond, Virginia. Bonnell and its other operating division, AACOA, manufacture finished and fabricated soft and medium-strength alloy aluminum extrusions for building and construction, automotive, machinery and equipment, consumer durables, transportation, electrical and distribution markets.