Tag Archive | "acquisition"

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Caesarstone Acquires Omicron Granite & Tile

Posted on 06 January 2021 by cradmin

As a mark of progress to its North American Growth Acceleration Plan, Caesarstone U.S. announced the strategic acquisition of Omicron Granite & Tile. This will immediately increase Caesarstone’s distribution network and provide 17 new locations from which Caesarstone will operate and present its surfacing products.

Based in Pompano Beach, Fla., Omicron Granite & Tile, a supplier of quartz and stone surfaces, owns and operates 17 showrooms and indoor warehouses across the Southeast and Ohio Valley regions of the United States.

This acquisition leverages the strength of the Caesarstone® brand in the U.S. through a robust distribution network, to best serve customers and promote its award-winning designs. This aligns with Caesarstone’s strategic mission to become the brand of choice in countertops globally, with a focus on enhanced customer experience.

“This acquisition enhances Caesarstone’s value to customers and consumers as Omicron’s geographic footprint will further extend our distribution initiatives and drives our ability to accelerate growth in these two key markets as we work toward exceeding our goals in 2021 and beyond,” said Ken Williams, President, Caesarstone North America. “We are thrilled to find a strong strategic partner with Omicron, whose high performing teams, and strong customer base fit seamlessly in our accelerated growth plans. Combining these two organizations will unlock synergies that create value for all internal and external stakeholders, and further opportunities to grow the Caesarstone brand.”

Fred Cohen, President of Omicron, commented, “Over the past several months I have been working closely with the Caesarstone leadership team to ensure a smooth and positive transition for our employees, customers and suppliers. We look forward to joining the Caesarstone organization.”

You may also be interested in this article: Wilsonart Expands TFL Capacity

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Caesarstone Enters Porcelain Market with New Acquisition

Posted on 02 September 2020 by cradmin3

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Caesarstone Ltd., a developer and manufacturer of engineered surfaces, announced its entry into an agreement to acquire majority ownership in Lioli Ceramica Pvt. Ltd. By entering the global porcelain category, Caesarstone achieves a significant milestone in its Global Growth Acceleration Plan.

Lioli Ceramica Pvt. Ltd, an India-based producer of cutting-edge porcelain countertop slabs, operating one of the most innovative and technologically advanced manufacturing facilities. With annual revenues of approximately $18 million, Lioli Ceramica is an ideal strategic partner to realize Caesarstone’s growth strategy.

The company believes that through this acquisition, an opportunity exists to leverage the strength of the Caesarstone® brand, extensive global distribution network, and award-winning designs. All this combined with Lioli’s advanced production technology, will further enhance Caesarstone’s premium countertop offering to its customers and consumers worldwide.

Yuval Dagim, Chief Executive Officer commented, “This acquisition is a major step in our efforts to advance our global growth acceleration plan and to realize our goal of becoming a leading premium, multi-material player in the global countertop industry. The acquisition will enable us to have a significant presence in the global porcelain category, one of the fast-growing categories in the countertop market, alongside our reputable quartz portfolio. Lioli’s state-of-the-art porcelain operations combined with Caesarstone’s highly valued brand and established global network will strengthen our unique value proposition and our ability to accelerate a multi-material growth strategy. In this way, we can enhance the experience of our consumers and business partners, while realizing our mission to be the first brand of choice for countertops around the world.”

Under the terms of the transaction, Caesarstone has entered into a definitive agreement to acquire majority ownership in Lioli for a cash investment of $12 million, representing an enterprise value of $34 million, including the assumption of debt and additional consideration of up to approximately $10 million upon the achievement of certain milestones. The transaction is expected to close in 2020, subject to customary closing conditions, and is expected to have a favorable impact to earnings beyond 2020.

You may also be interested in this article: Wilsonart Acquires Alpine Sales, Inc.

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Wilsonart Acquires Alpine Sales, Inc.

Posted on 04 August 2020 by cradmin3

Wilsonart Engineered Surfaces announced that it has signed a definitive agreement to acquire Alpine Sales, Inc., a Columbia, South Carolina based wholesale distributor to the building and remodeling industry. Alpine Sales distributes decorative surfaces, post formed countertops, lacquers and stains, and hardware.

“Our acquisition of Alpine Sales complements Wilsonart’s company culture and greatly enhances the services we offer with three locations in South Carolina and one in North Carolina,” said Tim Atkinson, Vice President, Sales. “We look forward to expanding Wilsonart’s Company-owned distribution footprint and enhancing our penetration of our expanding engineered surfacing offering. We will continue our tradition of best-in-class service, promote our broad engineered surfaces portfolio, and grow our business.”

“For over forty years, Alpine Sales has partnered with Wilsonart in distributing surfacing products,” Michael Steck, President, Alpine Sales. “Wilsonart’s commitment to delivering the highest quality products with unmatched service blends seamlessly with Alpine’s founding principles. The acquisition is a logical progression and will solidify our efforts in continuing to service customers in the Southeast with their building and remodeling needs.”

The transaction is expected to close on September 4, 2020.

You may also be interested in this article: Braxton-Bragg Changes Name to BB Industries, LLC

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Wilsonart Completes Acquisition of Technistone

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Wilsonart Completes Acquisition of Technistone

Posted on 21 October 2019 by cradmin

Wilsonart Engineered Surfaces recently completed the acquisition of Technistone, a.s. headquartered just outside of Prague in Hradec Králové, Czech Republic. Technistone is a world-leading manufacturer of quartz stone that has specialized in the industry for more than 20 years and exports quartz slabs to more than 75 countries worldwide on five continents.

“This acquisition represents a significant commitment to our Wilsonart® Quartz program and supports our mission to create surfaces our customers love, with service they can count on,” commented Andrew Korzen, VP, Product Management, Engineered Solid Surfaces, Wilsonart. “We welcome Technistone to the Wilsonart Engineered Surfaces portfolio of brands and products, and look forward to collectively serving our customers with a world-class quartz program.”

The addition of the Technistone® brand builds on Wilsonart’s already strong foundation and better positions the Company to focus on growth of quartz worldwide and is expected to support the sustainable long-term success of the company to better serve its customers.

You may also be interested in this article about Construction Resources’ Acquisition of United Materials Inc.

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Wilsonart To Acquire Technistone

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Wilsonart To Acquire Technistone

Posted on 12 August 2019 by cradmin

Wilsonart Engineered Surfaces has signed an agreement to acquire Technistone, a.s.,a world-leading manufacturer of quartz stone that has specialized in the industry for more than 20 years. Technistone is located just outside of Prague in Hradec Králové, Czech Republic, and exports quartz slabs to more than 75 countries worldwide on five continents. In 2018, Technistone completed significant state-of-the-art investments to upgrade its existing Bretonstone® production lines to increase capacity and improve design capabilities and quality. Technistone is globally recognized for high-quality and premium technical stone with a sophisticated system of objective color measurement and a reputation for excellent service.

“We are steadfast in our commitment to provide the global marketplace with a high-quality and reliable source of engineered surfacing options, across a broad range of materials. As the demand for quartz increases in both the commercial and residential markets, the addition of Technistone allows us to better provide our customers high-quality quartz products, combined with the service they have come to expect from Wilsonart,” says Andrew Korzen, VP, Product Management, Engineered Solid Surfaces, Wilsonart. “This acquisition represents a significant commitment to our Wilsonart® Quartz program and supports our mission to create surfaces our customers love, with service they can count on. We welcome Technistone to the Wilsonart Engineered Surfaces portfolio of brands and products, and look forward to collectively serving our customers with a world-class quartz program.”

“Our company has a terrific reputation for taking care of our customers with high-quality products and on-time shipments,” says Radek Průša, CEO and Chairman of the Board. “Now as a part of the Wilsonart organization, we have even stronger support of our brand. With our increased production capacity, our customers can expect even more as we join the Wilsonart family.”

The transaction is subject to regulatory approvals and is expected to close in September of 2019.

You may also be interested in this article about Construction Resources Acquiring United Materials Inc.

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Arclin Acquires SURTECO Treating Facility for TFL Papers

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Arclin Acquires SURTECO Treating Facility for TFL Papers

Posted on 24 July 2019 by cradmin

Arclin, a chemistry-based manufacturer of engineered products for the building, design, transportation and other industries, announced that it completed the acquisition of SURTECO’s North America decorative paper treating facility in East Longmeadow, Mass.  Terms of the agreement were not disclosed.

Acquisition of the facility expands Arclin’s footprint in North America, complementing the company’s existing treating operations in Tacoma, Wash. and Cobourg, ON.  Arclin’s Chief Operating Officer Ralf Yobp commented, “This facility gives us greater flexibility to serve our North American customers by increasing geographic availability.  The combined best practices of both companies will enhance Arclin’s ability to provide cost effective solutions for its customers in the face of increasing international competition.”

Arclin provides treating for its own portfolio of designs for  Thermally Fused Laminate (TFL) and has significant custom-treat capacity for TFL customers.  Combined with the company’s industrial surface treating assets, the company will now operate five treating facilities across North America, in addition to six chemical facilities.

You may also be interested in this article about Construction Resources acquisition of United Materials Inc.

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Formica Sale Finalized, Details Shared

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Formica Sale Finalized, Details Shared

Posted on 05 June 2019 by cradmin

Broadview Holding, a Netherlands-based industrial holding with a presence in material technology and energy, has completed the $840-million acquisition of Cincinnati-based Formica Group from Fletcher Building. The sale includes Formica businesses in North America, Europe and Asia, as well as its Homapal metal laminates business.

The sale was first announced in December 2018 with the signing of a Sale Purchase Agreement. This announcement reflects that all standard regulatory approvals were secured and the transaction to bring together two leading players in the international decorative surfacing industry is complete.

“We said it when the sale purchase agreement was announced, and today we reiterate that this represents an exciting future for Formica Group, as we have a strong strategic alignment with Broadview,” said Mitch Quint, president, Formica Corporation North America. “Now that the acquisition is complete, we look forward to working with our new colleagues and exploring the synergies that will make this combination very successful. Broadview has some industry-leading technologies in their portfolio and we’re excited for the growth opportunities that brings to the Formica businesses.”

The deal affects 500 Cincinnati area employees and 3,500 worldwide. Besides the factory and headquarters in Evendale, north of Cincinnati, Formica operates a plant in Canada and five plants each in Europe and Asia. The company generated $325 million in sales last year.

A press release from Broadview stated, “Combining Formica’s brand and distribution network with the technology base and product portfolio of its new sister companies will offer several benefits to Formica’s customer base, thereby also supporting profitable long term growth of the business. These benefits include access to the proprietary products from Arpa, Trespa and Westag as well as strengthened investment in the development of innovative superior surface solutions.”

You may also be interested in this article about Hyundai’s acquisition of Hanwha.

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HDI Announces Acquisition of Far West Plywood

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HDI Announces Acquisition of Far West Plywood

Posted on 20 February 2019 by cradmin

Hardwoods Distribution Inc. (HDI) announced that it has, through its subsidiary Hardwoods Specialty Products US LP, purchased Far West Plywood.

Far West is a single site wholesale distributor located in Northridge, Calif., from where they distribute architectural building products to customers that fabricate end products to commercial, industrial, retail, residential and institutional construction markets. Far West will operate under the Hardwoods brand name going forward.

“The addition of Far West represents a contiguous expansion of our current Southern California operations and provides additional size and scale in an attractive growth market,” commented Rob Brown, HDI’s President and Chief Executive Officer.

With this acquisition HDI now has added 39 distribution centers, to its distribution network, in the past eight years bringing it to 63 distributions centers servicing the North American Market.

You may also be interested in this article about the acquisition of Regent Stone Products.

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GranQuartz Acquires Regent Stone Products

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GranQuartz Acquires Regent Stone Products

Posted on 01 February 2019 by cradmin

GranQuartz, a division of Pearlman Group and a portfolio company of The Stephens Group, LLC, has acquired Regent Stone Products. Terms of the transaction were not disclosed.

Since 1992, Regent Stone Products has distributed stone fabrication and restoration tools and supplies. Based in Virginia Beach, VA, Regent has built a strong, loyal following with fabricators in the Mid-Atlantic region. Dan Davidenko, CEO of Pearlman Group, commented, “We are excited about the addition of Regent to the Pearlman family. They have a fantastic sales force, who have done an excellent job establishing themselves as trusted, reliable resources to their customers. We look forward to continuing to offer that level of service.” Tim Siviter, President of Regent Stone Products, added, “I’ve long admired the GranQuartz division of Pearlman Group and believe our organizations will be stronger together. It was a pleasure to work with The Stephens Group throughout the transaction. They delivered on everything they said they would.”

The acquisition of Regent Stone Products advances Pearlman Group’s goal of building a leading differentiated and scaled distribution platform focused on specialty contractors and fabricators. “Pearlman’s M&A engine continues to be a meaningful value driver,” commented Clay Hunter, Managing Director at The Stephens Group. “The Pearlman management team has a long track record of identifying, acquiring and integrating complementary acquisitions, and we continue to be highly supportive of this component of their strategy as they seek to be the buyer of choice to specialty distributors serving the professional contractor market.”

You may also be interested in this article about LOTTE’s newest acquisition.

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Wilsonart Acquires Laminate Works Dallas

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Wilsonart Acquires Laminate Works Dallas

Posted on 18 July 2018 by cradmin

Wilsonart Engineered Surfaces announced that it will acquire Laminate Works Dallas, a division of the Laminate Works Inc., a Kansas City based manufacturer of decorative High Pressure Laminate (HPL) panels. According to Vice President, Sales, Tim Atkinson, “This acquisition supports the continued growth of Wilsonart’s Coordinated Surfaces program with expanded capacity for the manufacture of HPL panels.”

“Our Coordinated Surfaces offering, a suite of best-matched surfacing options in HPL, Thermally Fused Laminate (TFL) panels and Edgeband featuring more than 230 Wilsonart designs and textures, has garnered tremendous support from both specifiers and fabricators,” says Atkinson.

Laminate Works Dallas has 25 employees. The company manufactures HPL decorative panels that are sold to downstream manufactures who cut, shape, and machine them to create finished products for use in multiple industries including:  contract furniture including schools, restaurants and hotels, architectural casework, elevators and store fixtures.

“Now as a part of the Wilsonart organization, we have stronger support for our brand. Customers can continue to count on service from the Laminate Works Dallas team during the transition,” says Geoffrey Athey, General Manager, Laminate Works Dallas.

You may also be interested in this article about Braxton-Bragg’s new product partnerships.

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