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September
30, 1999
Spartech
Corporation (NYSE: SHE) of St. Louis, Missouri, USA., announced today that it has purchased
the assets of Accura Molding Company Ltd., an established manufacturer
of Brita® brand water purification systems and custom injection
molded products. Accura operates from one 100k sq. ft. facility
located in Brampton, Ontario, Canada, with annual sales of US$11.1
million in its most recent fiscal year ended June 30, 1999.
Spartech's
Chairman, President and CEO, Bradley B. Buechler stated, "This
purchase further strengthens our molded & profile products group
by (1) broadening our product and service capabilities in the growing
water purification market, (2) increasing our overall injection
molding capacity, and (3) expanding our injection molded products'
geographic coverage in the Northern U.S. and Canada. The transaction
value of the acquisition was approximately US$11.0 million."
Spartech
is a leading producer of engineered thermoplastic materials, polymeric
compounds and molded & profile products. The company now has
41 facilities located throughout North America and Europe, with
annual production capacity and sales of more than 1.2 billion pounds
and US$775 million, respectively.
Aberdeen
Gould originated the transaction and provided exclusive advisory
services to the shareholders Accura Molding Company Ltd.
Aberdeen Gould is an advisory firm that specializes in corporate
finance, M & A and valuations for manufacturing companies. It
provides a full suite of value-added services for owners and managers
of private as well as public companies. Based in Toronto, and with
a presence in Quebec, the firm conducts business across North America
through established client relationships.
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