Wilsonart announced an agreement to acquire Durcon Incorporated, a manufacturer of laboratory-grade work surfaces and sinks. The Taylor, Texas-based Durcon provides laboratory tops, student tabletops, sinks and other work surfaces worldwide, and is best known for its epoxy resin surfaces. Durcon will operate as a new, independent business unit of Wilsonart.
The Federal Trade Commission on Oct. 25 granted early termination of the waiting period for U.S. antitrust review under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, in connection with the acquisition, and Wilsonart expects the transaction to close in the fourth quarter of 2013. The acquisition will reportedly be financed through a combination of available cash and Incremental Term Loan Commitments as provided under the company’s existing credit facilities.”We are excited about the future for both Wilsonart and Durcon,” said Timothy J. O’Brien, CEO of Wilsonart.
“We are investing for growth and adding a great brand, great products and great people to the Wilsonart family. These two organizations are culturally aligned around customer service, which will continue to be a key competitive advantage as we join forces to expand product offerings and reach new customers.”