Hempel signed a binding agreement to acquire Jones-Blair Company, a North American supplier for the protective and waterproofing markets.
Hempel’s Group President and CEO Pierre-Yves Jullien comments: “Jones-Blair is a company that we have been following for years and we finally got the chance to acquire it. Jones-Blair has proven to be one of the best coatings manufacturers in the region. It 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 becoming one of the world’s top-10 largest coatings suppliers by the end of 2015.”
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 company’s 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. “The acquisition will provide Hempel with a solid and diverse platform for the continued development of our business in the region.”
The transaction is expected to close in early March 2015.
