Worthington Enterprises Agrees to Acquire Leading Metal Roof Components Manufacturer LSI Group

Rhea-AI Summary

Worthington Enterprises (NYSE: WOR) agreed to acquire LSI Group, a U.S. maker of standing seam metal roof clips and retrofit components, for approximately $205 million. The deal will be funded with cash on hand and borrowings under Worthington’s revolving credit facility and is expected to close in January 2026, subject to regulatory approval and customary closing conditions.

LSI operates two manufacturing sites in Logansport, Indiana, and owns brands including Roof Hugger®, BPD and Logan Stampings; current LSI leadership will continue with Worthington after close.

Positive

• $205 million acquisition expands Building Products portfolio
• Adds LSI, a leading U.S. manufacturer of metal roof clips and retrofit components
• Expected close in January 2026, retaining LSI leadership and two Logansport plants

Negative

• Transaction funded with cash and borrowings under revolving credit facility (increases leverage)
• Closing subject to regulatory approval and customary conditions (possible delay or conditions)

Key Figures

LSI purchase price $205 million Cash and revolver-funded acquisition of LSI Group

Roof size example 10,000 square feet Illustrative commercial roof area used in clip demand example

Roof clip requirement 8,000–10,000 clips Standing seam metal clips needed for a 10,000-square-foot roof

LSI founding year 1968 Logan Stampings founding date in Logansport, Indiana

Ownership change 2004 Year Robert Baker purchased Logan Stampings

Manufacturing sites 2 locations LSI’s manufacturing facilities in Logansport, Indiana

Market Reality Check

$56.29 Last Close

Volume Volume 174,663 is 1.19x the 20-day average of 147,231, suggesting elevated interest pre-announcement. normal

Technical Price at 57.74 is trading above the 200-day MA of 56.58, indicating an established uptrend into the deal.

Peers on Argus

WOR fell 1.06% while key peers like ESAB (-0.82%), CMPO (-2.72%), ATI (-0.26%), CRS (-0.57%) and PRLB (-0.89%) were also down, but no coordinated sector momentum was flagged.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 02	Earnings call schedule	Neutral	-0.5%	Announced timing and access details for upcoming Q2 FY26 earnings call.
Nov 05	Conference participation	Positive	+2.3%	Outlined growth and M&A strategy at Baird Global Industrial Conference.
Sep 23	Earnings results	Positive	-1.3%	Reported strong Q1 FY26 growth, Elgen acquisition and robust liquidity.
Sep 23	Dividend declaration	Positive	-1.3%	Declared ongoing <b>$0.19</b> quarterly dividend and detailed Q1 call timing.
Sep 16	ESG report	Positive	-3.6%	Released 2025 ESG report with safety outperformance and sustainability gains.

Pattern Detected

Recent positive corporate updates (earnings strength, dividend, ESG progress) often saw flat-to-negative next-day moves, suggesting a tendency for muted or contrarian reactions to good news.

Recent Company History

Over the last six months, Worthington Enterprises has highlighted growth, portfolio shaping and capital returns. Q1 FY26 results showed 18% net sales growth to $303.7M and a strategic acquisition of Elgen Manufacturing for $91.2M, strengthening commercial HVAC. The company maintained a $0.19 quarterly dividend and continued buybacks. Corporate citizenship efforts included 88% waste recycling and $3.1M in charitable contributions. Today’s LSI deal extends this M&A-driven Building Products expansion, following prior emphasis on innovation and infrastructure-focused products.

Market Pulse Summary

The stock is down -8.3% following this news. A negative reaction despite strategic news would fit a pattern where positive updates, including strong earnings and dividends, previously saw soft price responses. The all-cash, revolver-supported $205 million LSI purchase increases exposure to commercial roofing and retrofit demand.

Key Terms

retrofit technical

"serves the retrofit market with the Roof Hugger brand of metal sub-purlins"

Retrofitting means updating existing buildings, equipment, or systems with newer technology or safety features instead of replacing them entirely. Like renovating an older house by installing modern insulation, efficient heating, or updated wiring, retrofits can lower operating costs, extend asset life, and help meet regulations or sustainability targets—factors that affect a company’s future profits, capital needs, and risk profile.

OEMs technical

"solutions to help OEMs and installers build stronger, longer-lasting structures"

OEMs, or Original Equipment Manufacturers, are companies that produce the main components or products that other companies use to build finished goods. For investors, OEMs are important because their performance can influence the supply chain, manufacturing costs, and overall market trends in industries like technology, automotive, and electronics. Their success often reflects broader economic health and consumer demand.

AI-generated analysis. Not financial advice.

COLUMBUS, Ohio, Dec. 16, 2025 (GLOBE NEWSWIRE) -- Worthington Enterprises Inc. (NYSE: WOR), a designer and manufacturer of market-leading brands that improve everyday life by elevating spaces and experiences, today announced it has signed a definitive agreement to acquire LSI Group, LLC (LSI) of Logansport, Indiana. LSI, which includes market-leading brands BPD, Logan Stampings, LSI Metal Fabrication and Roof Hugger^®, is one of the largest U.S. manufacturers of standing seam metal roof clips and retrofit components in the commercial metal roof market.

Worthington Enterprises plans to purchase LSI Group for approximately $205 million with cash on hand and borrowings under the company’s revolving credit facility. The transaction is expected to close in January 2026, subject to regulatory approval and other customary closing conditions.

Joe Hayek, president and chief executive officer, Worthington Enterprises, said, “The addition of LSI will further strengthen our Building Products portfolio and deepen engagement with customers across the entire building envelope. A leading U.S. manufacturer in a niche market, LSI has built an exceptional reputation for superior quality, industry-leading lead times and outstanding service backed by long-term customer relationships. Those relationships—and LSI’s people-first culture—align with our own values and commitment to supporting our customers and employees. We’re very much looking forward to welcoming them to our team.”

Demand for resilient, energy-efficient and durable roofing systems is expected to continue growing as building owners prioritize stronger, code-compliant structures in response to evolving weather patterns and manage rising energy costs and aging commercial building infrastructure, especially as roofs built during the early 2000s construction boom are now reaching the end of their service life. Common applications are industrial and manufacturing facilities, retail buildings, academic and municipal structures, hospitality, data centers, and recreation and mixed-use spaces. Standing seam metal roof clips, which act as concealed anchors, secure each metal roof panel to the underlying roof substrate. A new 10,000-square-foot roof requires approximately 8,000 – 10,000 metal roof clips.

LSI serves the retrofit market with the Roof Hugger brand of metal sub-purlins used to attach a new roof on top of an existing roof. Compared to full replacements, retrofitting with a metal roof lowers installation costs, improves energy efficiency, enhances code compliance, minimizes disruption during installation and increases sustainability.

Jimmy Bowes, president, Building Products, Worthington Enterprises, said, “LSI has earned its leadership position in the commercial metal roofing market through precision manufacturing, advanced automation and deep engineering expertise. Their U.S.-based production delivers consistent quality and the industry’s fastest lead times, while their customer-first mindset ensures responsive service and dependable support. We believe the business is well positioned with new construction and retrofit solutions to help OEMs and installers build stronger, longer-lasting structures that protect people and property for generations to come.”

LSI has two manufacturing locations in Logansport where it was founded in 1968 as Logan Stampings. Robert Baker, owner and president, LSI Group, LLC, purchased Logan Stampings in 2004 and grew the business through innovation, acquisition and prioritizing relationships. He will continue as a leader of the LSI business as part of Worthington Enterprises.

Baker said, “Joining Worthington Enterprises marks an exciting new era for LSI Group. Together, we’ll accelerate innovation, expand our reach and deliver even greater value to customers across the building envelope. This partnership opens doors to new opportunities for our employees and strengthens our ability to invest in Logansport, which has been our home for more than 50 years. We’re not just preserving what we’ve built—we’re amplifying it. With Worthington’s scale and shared vision, LSI is positioned to magnify value for all stakeholders and continue leading in commercial metal roofing solutions.”

Bowes concluded, “Robert has built an outstanding business throughout the last 20-plus years with phenomenal people who share our values, prioritize people, champion innovation and achieve ambitious goals. We are excited to welcome them to our team.”

Other products from Worthington Enterprises supporting critical infrastructure for the building envelope include building systems such as HVAC components, architectural and acoustical grid ceilings and metal framing and accessories, along with cylinders and tanks for heating and cooling, construction and water applications.

J.P. Morgan Securities LLC is serving as exclusive financial advisor and Vorys is serving as legal counsel to Worthington Enterprises. Bellmark Partners LLC and Calfee are advising LSI Group.

About Worthington Enterprises
Worthington Enterprises (NYSE: WOR) is a designer and manufacturer of market-leading brands that improve everyday life by elevating spaces and experiences. The company operates with two primary business segments: Building Products and Consumer Products. The Building Products segment includes heating and cooling, cooking, construction and water solutions, and building systems including HVAC components, architectural and acoustical grid ceilings and metal framing and accessories. The Consumer Products segment provides solutions for the tools, outdoor living and celebrations categories. Product brands within the Worthington Enterprises portfolio include Balloon Time®, Bernzomatic®, Coleman® (propane cylinders), CoMet®, Elgen, Garden Weasel®, General®, HALO™, Hawkeye™, LEVEL5 Tools®, Mag Torch®, NEXI™, Pactool International®, PowerCore™, Ragasco®, Well-X-Trol® and XLite™, among others.

Headquartered in Columbus, Ohio, Worthington Enterprises and its joint ventures employ approximately 6,000 people throughout North America and Europe.

Founded in 1955 as Worthington Industries, Worthington Enterprises follows a people-first Philosophy with earning money for its shareholders as its first corporate goal. Worthington Enterprises achieves this outcome by empowering its employees to innovate, thrive and grow with leading brands in attractive markets that improve everyday life. The company engages deeply with local communities where it has operations through volunteer efforts and The Worthington Companies Foundation, participates actively in workforce development programs and reports annually on its corporate citizenship and sustainability efforts. For more information, visit worthingtonenterprises.com.

Safe Harbor Statement
Selected statements contained in this release constitute “forward-looking statements,” as that term is used in the Private Securities Litigation Reform Act of 1995 (the “Act”). The company wishes to take advantage of the safe harbor provisions included in the Act. Forward-looking statements reflect the company’s current expectations, estimates or projections concerning future results or events. These statements are often identified by the use of forward-looking words or phrases such as “believe,” “expect,” “anticipate,” “may,” “could,” “should,” “would,” “intend,” “plan,” “will,” “likely,” “estimate,” “project,” “position,” “strategy,” “target,” “aim,” “seek,” “foresee” and similar words or phrases. These forward-looking statements include, without limitation, statements relating to: future or expected cash positions, liquidity and ability to access financial markets and capital; outlook, strategy or business plans; the anticipated benefits of the separation of the company’s Steel Processing business (the “Separation); the expected financial and operational performance of, and future opportunities for, the company following the Separation; the company’s performance on a pro forma basis to illustrate the estimated effects of the Separation on historical periods; the tax treatment of the Separation transaction; future or expected growth, growth potential, forward momentum, performance, competitive position, sales, volumes, cash flows, earnings, margins, balance sheet strengths, debt, financial condition or other financial measures; pricing trends for raw materials and finished goods and the impact of pricing changes; the ability to improve or maintain margins; expected demand or demand trends for the company or its markets; additions to product lines and opportunities to participate in new markets; expected benefits from transformation and innovation efforts; the ability to improve performance and competitive position at the company’s operations; anticipated working capital needs, capital expenditures and asset sales; anticipated improvements and efficiencies in costs, operations, sales, inventory management, sourcing and the supply chain and the results thereof; projected profitability potential; the ability to make acquisitions and the projected timing, results, benefits, costs, charges and expenditures related to acquisitions, joint ventures, headcount reductions and facility dispositions, shutdowns and consolidations; projected capacity and the alignment of operations with demand; the ability to operate profitably and generate cash in down markets; the ability to capture and maintain market share and to develop or take advantage of future opportunities, customer initiatives, new businesses, new products and new markets; expectations for company and customer inventories, jobs and orders; expectations for the economy and markets or improvements therein; expectations for generating improving and sustainable earnings, earnings potential, margins or shareholder value; effects of judicial rulings; the ever-changing effects of the novel coronavirus (“COVID-19”) pandemic and the various responses of governmental and nongovernmental authorities thereto on economies and markets, and on the company’s customers, counterparties, employees and third-party service providers; and other non-historical matters.

Because they are based on beliefs, estimates and assumptions, forward-looking statements are inherently subject to risks and uncertainties that could cause actual results to differ materially from those projected. Any number of factors could affect actual results, including, without limitation, those that follow: the uncertainty of obtaining regulatory approvals in connection with the Separation, including rulings from the Internal Revenue Service; the company’s ability to successfully realize the anticipated benefits of the Separation; the risks, uncertainties and impacts related to the COVID-19 pandemic – the duration, extent and severity of which are impossible to predict, including the possibility of future resurgence in the spread of COVID-19 or variants thereof – and the availability, effectiveness and acceptance of vaccines, and other actual or potential public health emergencies and actions taken by governmental authorities or others in connection therewith; the effect of national, regional and global economic conditions generally and within major product markets, including significant economic disruptions from COVID-19, the actions taken in connection therewith and the implementation of related fiscal stimulus packages; the effect of conditions in national and worldwide financial markets, including inflation, increases in interest rates and economic recession, and with respect to the ability of financial institutions to provide capital; the impact of tariffs, the adoption of trade restrictions affecting the company’s products or suppliers, a United States withdrawal from or significant renegotiation of trade agreements, the occurrence of trade wars, the closing of border crossings, and other changes in trade regulations or relationships; changing oil prices and/or supply; product demand and pricing; changes in product mix, product substitution and market acceptance of the company’s products; volatility or fluctuations in the pricing, quality or availability of raw materials (particularly steel), supplies, transportation, utilities, labor and other items required by operations (especially in light of the COVID-19 pandemic and Russia’s invasion of Ukraine); effects of sourcing and supply chain constraints; the outcome of adverse claims experience with respect to workers’ compensation, product recalls or product liability, casualty events or other matters; effects of facility closures and the consolidation of operations; the effect of financial difficulties, consolidation and other changes within the steel, automotive, construction and other industries in which the company participates; failure to maintain appropriate levels of inventories; financial difficulties (including bankruptcy filings) of original equipment manufacturers, end-users and customers, suppliers, joint venture partners and others with whom the company does business; the ability to realize targeted expense reductions from headcount reductions, facility closures and other cost reduction efforts; the ability to realize cost savings and operational, sales and sourcing improvements and efficiencies, and other expected benefits from transformation initiatives, on a timely basis; the overall success of, and the ability to integrate, newly-acquired businesses and joint ventures, maintain and develop their customers, and achieve synergies and other expected benefits and cost savings therefrom; capacity levels and efficiencies, within facilities, within major product markets and within the industries in which the company participates as a whole; the effect of disruption in the business of suppliers, customers, facilities and shipping operations due to adverse weather, casualty events, equipment breakdowns, labor shortages, interruption in utility services, civil unrest, international conflicts (especially in light of Russia’s invasion of Ukraine), terrorist activities or other causes; changes in customer demand, inventories, spending patterns, product choices, and supplier choices; risks associated with doing business internationally, including economic, political and social instability (especially in light of Russia’s invasion of Ukraine), foreign currency exchange rate exposure and the acceptance of the company’s products in global markets; the ability to improve and maintain processes and business practices to keep pace with the economic, competitive and technological environment; the effect of inflation, interest rate increases and economic recession, which may negatively impact the company’s operations and financial results; deviation of actual results from estimates and/or assumptions used by the company in the application of its significant accounting policies; the level of imports and import prices in the company’s markets; the impact of environmental laws and regulations or the actions of the United States Environmental Protection Agency or similar regulators which increase costs or limit the company’s ability to use or sell certain products; the impact of increasing environmental, greenhouse gas emission and sustainability regulations and considerations; the impact of judicial rulings and governmental regulations, both in the United States and abroad, including those adopted by the United States Securities and Exchange Commission and other governmental agencies as contemplated by the Coronavirus Aid, Relief and Economic Security (CARES) Act, the Consolidated Appropriations Act, 2021, the American Rescue Plan Act of 2021, and the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010; the effect of healthcare laws in the United States and potential changes for such laws, especially in light of the COVID-19 pandemic, which may increase the company’s healthcare and other costs and negatively impact the company’s operations and financial results; the effects of tax laws in the United States and potential changes for such laws, which may increase the company’s costs and negatively impact the company’s operations and financial results; cyber security risks; the effects of privacy and information security laws and standards; and other risks described from time to time in the company’s filings with the United States Securities and Exchange Commission, including those described in “Part I – Item 1A. – Risk Factors” of the company’s Annual Report on Form 10-K for the fiscal year ended May 31, 2025.

Forward-looking statements should be construed in the light of such risks. The company notes these factors for investors as contemplated by the Act. It is impossible to predict or identify all potential risk factors. Consequently, readers should not consider the foregoing list to be a complete set of all potential risks and uncertainties. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date made. The company does not undertake, and hereby disclaims, any obligation to update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law.

Sonya L. Higginbotham
Senior Vice President
Chief of Corporate Affairs, Communications and Sustainability
614.438.7391
sonya.higginbotham@wthg.com

Marcus A. Rogier
Treasurer and Investor Relations Officer
614.840.4663
marcus.rogier@wthg.com

200 West Old Wilson Bridge Rd.
Columbus, Ohio 43085
WorthingtonEnterprises.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f08dd92a-552b-45b9-a378-330fec0887fd 

FAQ

What did Worthington Enterprises (WOR) announce on December 16, 2025 about LSI Group?

Worthington announced it signed a definitive agreement to acquire LSI Group for about $205 million, expected to close in January 2026.

How will Worthington fund the acquisition of LSI Group (WOR)?

Worthington plans to use cash on hand and borrowings under its revolving credit facility to fund the purchase.

What brands and products does LSI Group bring to Worthington (WOR)?

LSI includes brands BPD, Logan Stampings, LSI Metal Fabrication and Roof Hugger®, supplying standing seam metal roof clips and retrofit components.

When is the Worthington (WOR) and LSI acquisition expected to close?

The transaction is expected to close in January 2026, subject to regulatory approval and customary closing conditions.

How many manufacturing locations does LSI Group operate and where are they?

LSI operates two manufacturing locations in Logansport, Indiana.

What are investor risks tied to Worthington’s (WOR) LSI acquisition?

Key risks include increased leverage from revolver borrowings and the deal being subject to regulatory approval which could delay or alter the transaction.