Company Overview - AZZ Inc. is a leading North American provider of sustainable metal coating solutions, focusing on two high-margin core businesses: Metal Coatings and Precoat Metals [2][4] - The company is the largest independent post-fabrication hot-dip galvanizer in North America, providing corrosion protection solutions that extend the lifecycle of steel assets while reducing emissions and lifecycle costs [2] Business Segments - The Metal Coatings segment benefits from strong exposure to regulated infrastructure spending, including bridges, highways, utilities, and transmission towers, alongside growing demand from renewables and industrial construction [3] - This segment operates under a tolling model that largely eliminates commodity price risk, delivering structurally high margins in the 30% EBITDA range [3] - The acquisition of Precoat Metals in fiscal 2023 has positioned AZZ as the leading independent coil coater in North America, serving various markets such as building products and transportation [4] Strategic Focus - AZZ has simplified its portfolio by monetizing its Infrastructure Solutions exposure, using the proceeds to deleverage and reinvest in its core coatings platform [6] - The company is positioned as a high-quality, cyclical industrial compounder with durable competitive advantages and attractive long-term value creation potential, supported by large addressable markets tied to infrastructure renewal and energy transition [6]