International. Hempel announced the signing of a binding agreement to acquire Jones-Blair Company, a North American supplier to the protection and waterproofing markets. With the proposed acquisition, Hempel aims to expand its business in this region, in line with its global strategy.
Pierre-Yves Jullien, President and CEO of Hempel Group, said: "Jones-Blair is a company we have been following for years and was finally given the opportunity to acquire it. It has proven to be one of the best coating manufacturers in the region. It has a unique market position, a great technical knowledge and many years of experience. The acquisition creates the best conditions for us to reach our goals in North America, and also supports our goal of becoming one of the world's top 10 largest coating suppliers by the end of 2015."
The transaction is expected to close in early March 2015, subject to regulatory approval.
Hempel acquired protective coatings manufacturer Blome International Inc. In 2012, and has indicated significant growth in the Americas as a result of that agreement, and many Blome products are already available to Hempel's global customers.
In late 2014, Hempel completed its latest acquisition, when it acquired Schaepman, a Dutch coatings manufacturer. By mutual agreement, neither side gave further details about the proposed acquisition before regulators' approval. The terms of the sale will remain undisclosed.
