DALLAS, March 11, 2015 /PRNewswire/ -- The global coatings producer Hempel announced today that it has closed its previously announced acquisition of Jones-Blair Company, a leading North American supplier for the protective and waterproofing markets. 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 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.
Joining forces
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 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.
Per mutual agreement, terms of the sale are undisclosed.
Hempel media contact:
Malte V. Eggers
Group Communication Director
Hempel A/S
Phone: +45 4527 3976
Mobile: +45 2097 5809
Email: [email protected]
About Hempel
Hempel is a world-leading coatings supplier for the decorative, protective, marine, container and yacht markets. From wind turbines and bridges to hospitals, ships, power stations and homes, our coatings protect man-made structures from the corrosive forces of nature. Hempel owns, among other companies, Crown Paints, Blome International Inc. and Schaepman.
With a focus on R&D, advanced production techniques and professional coatings advice, we work around the globe to help keep our customers' investments safe and attractive for a long time. Our working concept is simple: We are curious, creative and self-critical, and we always aim to create extra value for our customers.
About Jones-Blair
Jones-Blair Company is a fully integrated research, manufacturing and marketing organisation headquartered in Dallas, Texas. Jones-Blair consists of two divisions: (1) JONES-BLAIR High Performance Coatings for industrial OEM, maintenance applications and corporate re-imaging coatings, and (2) NEOGARD surface-applied waterproofing, seamless epoxy flooring, elastomeric roofing and wall coating systems.
Since 1928, Jones-Blair's mission has been to provide the business community with the highest quality products accompanied by unparalleled customer service. Its record of longevity and growth speaks volumes about the accomplishment of these simply stated goals; however, customers deserve to know the business philosophy that drives the company's success. After all, any product, sold to any customer, has but one purpose – to provide a solution to a problem.
SOURCE Hempel
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