Shares of AZZ Incorporated (AZZ) rose some 5.5% in Monday's trading session. The electrical equipment and components manufacturer announced the acquisition of Aquilex Specialty Repair and Overall. Monday's price action has boosted the year to date returns to 15%, despite the fact that the company recently lowered its full year guidance.
The Deal
AZZ Incorporated announced that it has agreed Aquilex Specialty Repair, a leader in maintenance, repair and revitalization services to the nuclear and fossil power generation markets. The company furthermore serves refining and industrial markets.
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