Worthington Enterprises, Inc. closed its acquisition of LSI Group, LLC for $205 million in cash, adding LSI’s BPD, Logan Stampings, LSI Metal Fabrication and Roof Hugger® brands to its Building Products portfolio. The deal was valued at a headline multiple of 9.1 times LSI’s trailing‑12‑month adjusted EBITDA as of September 30, 2025, and was financed with a mix of cash on hand and borrowing under Worthington’s revolving credit facility, leaving the company with a pro‑forma leverage ratio of 1.1x.
The transaction expands Worthington’s presence in the commercial metal‑roofing market, a segment that has grown 3‑5% annually and is estimated at $400 million in the United States. By adding LSI’s product lines, Worthington strengthens its building‑envelope offering and reinforces its post‑steel transformation focus on high‑margin, specialized industrial products and building‑systems solutions.
Financially, the acquisition is expected to be accretive to adjusted EBITDA margin, earnings per share and cash flow. The combination is projected to generate synergies through shared manufacturing expertise, supply‑chain efficiencies and cross‑selling opportunities with Worthington’s existing HVAC and metal‑framing businesses. Management anticipates that the integration will accelerate revenue growth in the Building Products segment, which already recorded sales up 32% year‑over‑year in the most recent quarter.
Joe Hayek, President and CEO of Worthington, said the deal “marks an important step in advancing our strategy and strengthening our position across the building envelope.” He highlighted LSI’s reputation for “outstanding innovation and service backed by long‑term customer relationships” as a key asset that will support the company’s growth objectives.
The acquisition positions Worthington to capture a larger share of the growing global metal‑roofing market, projected to reach $32.83 billion by 2032. With LSI’s established customer base and product innovation capabilities, the company expects to deepen its market penetration, improve margin profiles, and accelerate the execution of its broader transformation plan.
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