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Hill & Smith PLC announced an agreement to acquire 80% of Freeberg Industrial Fabrication Corp. for $36 million, with additional payments possible based on profitability through 2031, capped at $50 million. The acquisition, pending U.S. regulatory approvals, aims to expand Hill & Smith's footprint in the U.S. engineered solutions market.

Freeberg, located in Escondido, California, designs custom enclosures for data centers and is constructing a new 160,000-square-foot facility in Arizona, expected to be operational in late 2026. The facility will support assembly of large-scale electro-mechanical systems.

For the year ending 2025, Freeberg reported revenue of $31.7 million and adjusted EBIT of $5.3 million. The acquisition is expected to enhance earnings in 2026.