Volume 48, Issue 1 - January 2013
Trulite Acquires Western States
As a result of this acquisition, the announcement notes that Trulite and Western States will now serve all of California; the Western States portfolio of products will broaden, offering laminated and PPG certified products produced in Trulite’s Los Angeles supercenter.
“We are excited to be part of the Trulite organization. We believe that a larger organization will allow us to provide a wider array of products and services to our loyal customer base. Our friendly merger means good things for all of us. It gives our company an extremely strong position in the marketplace and adds the strengths of Trulite to our own,” says Mickey Smith, president of Western States.
“We are delighted to partner with Mickey Smith, Jon Witkin, [former owner of Western States], and Don Post [former vice president of Western States]. We look forward to their contribution in making Trulite an even better company. We fully expect little change for the current customers and employees at Western States as a result of the acquisition,” says Paul Schmitz, CEO of Trulite. “We believe that the acquisition of Western States makes a lot of strategic sense as it gives us ability to expand into an attractive geographic region and partner with a strong management team who has demonstrated its ability to effectively service its customers. We remain interested in additional acquisitions that make good strategic sense and for which there is a strong cultural fit.”
Dorma Acquires Rutherford Controls
“RCI is excited to play a key role in accelerating Dorma’s growth throughout the Americas,” says RCI president Eric Gowland. “Joining forces with Dorma will further enhance both our companies’ abilities to dominate our industry as innovative leaders in access control solutions.”
An announcement issued by RCI notes that Dorma intends to keep the RCI brand and also to maintain RCI business as usual including all customers, employees, sales representatives, suppliers and locations.
“The America’s region provides great opportunity for gaining market share based on our ability to offer integrated premium access solutions and the RCI acquisition represents a big step forward in this regard,” adds Wil VandeWiel, Dorma area president Americas.
Lakesmere Acquires McMullen Architectural
“I have known and respected Ted McMullen and his team for many years,” says Mark Davey, managing director of Lakesmere. “They have a strong heritage in the specialist facades marketplace and we intend to ensure that the name and reputation of the company lives on as part of the Lakesmere Group. There are natural synergies between our businesses which will enable Lakesmere to offer clients an enhanced range of services in both the UK and internationally where Lakesmere has built a significant reputation in recent times.”
McMullen Facades Limited will continue to operate from its Northern Ireland headquarters.
Beneq Acquires EL Business
“The acquisition of this business from Planar is a natural next step in Beneq’s strategy of taking ALD into industrial production, and allows us to expand our own corporate portfolio in world-leading ALD technology and related products,” says Sampo Ahonen, CEO of Beneq.
PPG Expands its Coatings Offerings
In December PPG completed the acquisition of certain assets of Spraylat Corp., a privately-owned industrial coatings company based in Pelham, N.Y. Financial terms were not disclosed. According to the announcement, the acquisition furthers the capabilities of PPG’s industrial coatings business for both liquid and powder coatings. Spraylat coatings products are used in a number of industrial markets including architectural powder coatings. The company had annual sales of approximately $125 million in 2011.
“Acquiring Spraylat furthers PPG’s strategy to remain a leading industrial coatings supplier,” says Richard Zoulek, PPG vice president, industrial coatings, Americas. “This transaction strengthens PPG’s position in key end-use markets while expanding PPG’s overall liquid and powder coatings capabilities.”
Likewise, in a deal valued at $1.05 billion PPG reached a definitive agreement to acquire the North American architectural coatings business of AkzoNobel N.V., of Amsterdam. The transaction was approved by the board of directors of both companies and is expected to close early in the second quarter of this year, subject to regulatory approvals.
According to the announcement, the acquired business had 2011 revenues of about $1.5 billion and the acquisition includes the addition of about 600 AkzoNobel-owned paint stores creating a combined network of about 1,000 company-owned stores serving the North American market.
The acquisition includes all AkzoNobel North American architectural coatings manufacturing and distribution facilities, paint stores, product lines and employees related to the production, sale and distribution of architectural coatings in the United States, Canada and the Caribbean.