New Zealand company Steel & Tube has recently completed the acquisition of the business of Composite Floor Decks Limited (CFDL). Composite Floor Decks Limited is a hugely successful business and a market leader in the installation of steel floor decking systems. S&Tâs relationship with the business as our distributor and installer of ComFlor® has been in place since 2005, when it was formed by its UK-based parent company to service the New Zealand market. S&T chief executive Dave Taylor says in acquiring CFDL, S&T enhances its supply and install capability for steel floor decking systems. âThe acquisition is a perfect fit. âWith S&T having the license to manufacture and market ComFlor®, the acquisition means we enhance our supply chain capabilities, creating an end-to-end process from manufacture through to installation.â? The consideration was for an initial USD 13.25M and three earn out payments of USD 1M each if financial milestones are met over the next two years.
