(BRK.A), (BRK.B)
Berkshire Hathaway’s wholly owned MiTek Industries has acquired M&M Manufacturing, which is based in Fort Worth, Texas.
According to a MiTek press release, M&M Manufacturing is one of the country’s largest producers of sheet metal products, primarily servicing the air distribution and ventilation market. M&M provides a comprehensive range of round, rectangular, oval and spiral ductwork, fittings and accessories for residential and commercial construction.
M&M Manufacturing was founded by the Stepp family in Fort Worth, Texas in 1958, as a small sheet metal shop. The is now one of the largest HVAC ductwork and product manufacturers in the United States, with 6 manufacturing facilities producing more than 9,000 different products and employing nearly 800 team members.
M&M’s own extensive growth over the past decade included acquiring the Wilkins Corporation of Little Rock, Arkansas, in 2010. Wilkins manufactures steel duct pipe and fittings for the HVAC industry. M&M also opened a new a manufacturing plant in Austin, Texas, in 2014.
MiTek Industries is a “diversified, global business supplying a wide range of engineered products, proprietary design software, and automated equipment sold into the broad construction and industrial end markets.”
MiTek has been aggressive in its acquisitions, and in 2013 and 2014 acquired Benson Industries, Kova Solutions, Cubic Designs, and Ellis & Watts Global Industries.
© 2015 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.