v3.26.3
Acquisitions
 6 Months Ended
Aug. 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions 2. Acquisitions
Seattle Galvanizing
On July 30, 2026, we completed the acquisition of all of the equity interests of Seattle Galvanizing Company, LLC ("Seattle Galvanizing"), a privately held provider of hot-dip and spin galvanizing solutions headquartered in Arlington, Washington, for a total purchase price of approximately $57.5 million. The acquisition expanded our geographic coverage into the Pacific Northwest. The business is included in the AZZ Metal Coatings segment. The goodwill arising from this acquisition was allocated to the AZZ Metal Coatings segment and is expected to be deductible for income tax purposes. See Note 12 for additional information regarding the finance lease liability recognized in connection with the acquisition.
The allocation of the purchase price to the identifiable assets acquired and liabilities assumed for the Seattle Galvanizing acquisition is preliminary and subject to revision during the measurement period, which extends up to one year from the acquisition close date. The valuation of identifiable intangible assets, property, plant and equipment, and the related deferred tax effects remain incomplete pending receipt of third-party valuation analyses. The preliminary allocation below was made using estimates based on information available at the time these consolidated financial statements were prepared. We believe these estimates are reasonable; however, the estimates are subject to change as additional information becomes available, and any adjustments to preliminary amounts will be reflected as measurement period adjustments in the period in which they are identified.
The following table summarizes the preliminary fair values of the allocation of assets acquired and liabilities assumed, in aggregate, related to the Seattle Galvanizing acquisition, as of the date of the acquisition (in thousands):
July 30, 2026
Assets
Accounts receivable$2,420 
Inventories2,177 
Property, plant and equipment7,500 
Right-of-use assets29,322 
Goodwill25,853 
Intangibles and other assets20,000 
Total fair value of assets acquired$87,272 
Liabilities
Accounts payable(274)
Accrued salaries and wages(176)
Lease liabilities(29,322)
Total fair value of liabilities assumed$(29,772)
Total purchase price, net of cash acquired$57,500 
Canton Galvanizing
On July 1, 2025, we completed the acquisition of all the assets of Canton Galvanizing, LLC ("Canton Galvanizing"), a privately held hot-dip galvanizing company based in Canton, Ohio, for a total purchase price of approximately $30.1 million. The acquisition expanded our geographic coverage and metal coatings capacity and further strengthened our network of facilities in the Midwest region of the United States. The business is included in the AZZ Metal Coatings segment. The goodwill arising from this acquisition was allocated to the AZZ Metal Coatings segment and is expected to be deductible for income tax purposes.
The allocation of the purchase price to the identifiable assets acquired and liabilities assumed for the Canton Galvanizing acquisition has been finalized. Intangible assets subject to amortization from the acquisition consist of customer relationships. The total weighted-average amortization period for these assets is 15 years, and the assets have no residual value.
The following table summarizes the fair values of the allocation of assets acquired and liabilities assumed, in aggregate, related to the Canton Galvanizing acquisition, as of the date of the acquisition (in thousands):
July 1, 2025
Assets
Accounts receivable$1,409 
Inventories1,049 
Property, plant and equipment4,759 
Goodwill9,585 
Intangibles and other assets13,810 
Total fair value of assets acquired$30,612 
Liabilities
Accounts payable(237)
Other accrued liabilities(231)
Total fair value of liabilities assumed$(468)
Total purchase price, net of cash acquired$30,144 

Pro Forma
The results of operations of each acquired business have been included in the Company's consolidated financial statements since the respective acquisition date. Pro forma revenue and earnings information has not been presented because the revenue and earnings contributions of these acquisitions were not material, individually or in the aggregate, to the Company's consolidated results of operations.