Osmose wood preservation business sold to Koppers
Pittsburgh-based Koppers Inc. agreed to acquire the Wood Preservation and Railroad Services business of Osmose Holdings for $460 million.
Revenues for the acquired businesses in 2013 were about $390 million.
Koppers president and CEO Walt Turner described the acquisition as a complimentary move. “Importantly, the business culture of Osmose is closely aligned with that of Koppers, which should provide for a smooth integration allowing us to fully capture synergies and realize the earnings and margin accretion that we have identified during our due diligence process.”
Osmose’s Wood Preservation business is a global leader in developing, manufacturing and marketing wood preservation chemicals and wood treatment technologies. Last year’s sales were about $350 million, according to the announcement. Osmose’s railroad services included bridge inspection, engineering, maintenance and repair generated about $40 million in 2013 revenues.
In a letter to customers, Osmose executives described the move as a positive for the company and its customers.
"Osmose Wood Preserving will continue to operate as it has with very little visible change to our customers and markets," read a letter signed by Osmose senior VPs Steve Reeder and Gary Converse. "We look forward to serving our customers as we always have, and we consider this acquisition to be a very postivite development for Osmose and our customers’ future success."
The transaction is expected to close in the third quarter of 2014.
Hines Supply opens roofing and siding location
Buffalo Grove, Ill.-based Hines Supply, a subsidiary of US LBM, announced its newest northern Illinois location — Builder’s Roofing & Siding Supply of Warrenville.
Founded in 1967 by Henry Pelletier, Builder’s Roofing & Siding Supply is a wholesale distributor and supplier of roofing, siding and windows serving Chicago and its western suburbs. Grandsons Brian, Mark and Scott Pelletier will remain with the company.
“We are excited to join the Hines team and the opportunity it brings to provide our customers with continued enhancements to our product and service offering,” said Brian Pelletier. “Our facility will allow Hines to meet and exceed the demands of Chicagolands’ roofing and siding contractors.”
The announcement of the partnership follows shortly after Hines opened a full-service building supply center and design showroom in Grayslake, Ill., north of Chicago.
Hines Supply also operates building supply centers in Alsip, Hampshire, and Wheaton; a millwork facility in Kirkland; and a window, door and cabinetry showroom in Buffalo Grove.
“Our new Hines Roofing & Siding location in Warrenville gives the Hines team dedicated resources and expertise in product categories that will add significant value for our home-building and remodeling customers,” said Hines Supply president Doug Jones.
Jones also stated: “Our new logistics software will give customers real-time GPS delivery tracking, access to account information anytime-anywhere and more. No one else in our market can provide this to the roofing contractor.”
US LBM, recipient of the 2013 HCN Pro Dealer of the Year Award, is a collection of 10 leading building material distributors serving the Midwest, Northeast, Southeast and Mid-Atlantic in nine states with more than 55 locations.
Wagner adds portable paint spray system
Wagner rolled out the Wagner SprayTech FLEXiO 890, an indoor/outdoor paint sprayer that takes some of the time and fatigue out of painting jobs.
The sprayer contains an X-Boost turbine in the base, which stays on the floor for a lighter, more portable user experience. It also provides tripe the power of traditional units, according to the company. This helps atomize paint for a smooth and even finish, regardless of the type of paint.
"We designed the FLEXiO 890 to make spraying less tiring over long periods of time," said Jon Beaton, Wagner product manager. "Our goal was to help consumers get their indoor or outdoor projects done quickly and with great results."
Ideal for painting broad surfaces, the patented iSpray nozzle sprays any coating and easily handles thick paints for even coverage. A Detail-Finish nozzle can also be used for small projects and detail work.
"With controls for the speed of air flow, width of the spray and fan pattern, the FLEXiO 890 can be used to paint broad interior surfaces without concern for overspray – and without the tedious effort associated with brushes or rollers. Prep work only requires basic masking," said Beaton.
Additionally, the FLEXiO 890 is 50% quieter than traditional, airless sprayers — comparable to a hairdryer, says the company.