PRZOOM - /newswire/ -
Kgs, Lyngby, Denmark, 2015/03/12 - The global coatings producer Hempel announced that it has closed its previously announced acquisition of Jones-Blair Company, a leading North American supplier for the protective and waterproofing markets - Jones-Blair.com / Hempel.com.
In line with Hempel’s global growth strategy, the acquisition will provide Hempel with a solid and diverse platform for the continued development of its business in North America.
One of Hempel’s key objectives is to strengthen its presence in North America through organic growth and acquisitions. The acquisition of Jones-Blair Company, located in Dallas, Texas, supports this objective by accelerating Hempel’s growth in the region within its strategic segments.
Hempel’s Group President and CEO Pierre-Yves Jullien comments: “We’re very pleased that we have closed this transaction. Jones-Blair (jones-blair.com) has a unique market position, great technical knowledge and many years of experience. The acquisition will create the best conditions for us to achieve our objectives in North America, and also supports our goal of consolidating our position as a top global coatings supplier.”
This acquisition is Hempel’s third in the last four months. In December 2014, Hempel acquired Schaepman, a Dutch supplier of specialised industrial, protective and decorative coatings. In February 2015, it acquired its former toll manufacturer in South Africa, The Coatings Manufacturing Company.
Jones-Blair’s business is focused on two distinct markets: oil & gas (industrial coatings) and construction, especially waterproofing, through the NEOGARD brand.
According to Kim Junge Andersen, Hempel’s Group Executive Vice President & CFO, the two companies’ product portfolios complement each other perfectly. “By combining our strengths, we can serve our customers better and with more complete solutions compared to what each of us could do on our own,” he says.
Jones-Blair’s CEO, Jeff Powell, comments: “We are excited about the acquisition and we look forward to supporting Hempel’s growth ambitions. This is a win-win situation for both companies. Hempel’s global presence will allow us to broaden our customer, product, geographical and technological base.”
Strong local and global growth
Jones-Blair’s manufacturing facility in Dallas, Texas, will remain operational and will complement production at Hempel’s factory in Conroe, Texas.
The new plant in Dallas becomes Hempel’s 27th factory and is one of four new factories that Hempel has added to its worldwide production footprint since 2014, as part of its One Hempel One Ambition growth strategy.
“We created strong growth momentum in 2014 and we will continue building on it,” Kim Junge Andersen says, adding:
“2015 it is an exciting year for Hempel. We are celebrating 100 years of being a successful and responsible business, and 2015 also marks the continuation of our growth strategy. Our focus is still on growing our core segments Decorative, Protective and Marine and we have launched several initiatives and products that will help us achieve our growth goals.”
Back in 2012, Hempel acquired the US-based protective coatings manufacturer Blome International Inc. Hempel has seen significant growth in the Americas as a result and many Blome products are now available to Hempel’s global customers.
Further to the acquisition of Jones-Blair Company, Hempel (hempel.com) is adjusting its organisational structure in order to continue to improve its market position in the Americas. Jeff Powell will become a Hempel Group Vice President and will take over responsibility for Hempel’s organisation in North America.