Cequent buys Harper Brush assets

Published: December 6, 2012 6:00 am ET

Related to this story

Topics Mergers & Acquisitions, Consumer Products

SOLON, OHIO (Dec. 6, 12:40 p.m. ET) — Cequent Consumer Products, a Solon-based maker of automotive aftermarket products and household cleaning tools, has bought the assets of Harper Brush Works Inc. in Fairfield, Iowa.

Cequent, a division of Trimas Corp. of Bloomfield Hills, Mich., did not say what it paid for Harper, a maker of cleaning tools that was founded in 1900. According to documents filed in U.S. Bankruptcy Court, the company paid $3.45 million, plus assumed obligations of up to $100,000.

“Acquiring Harper, who has a strong brand name in the cleaning tool business, gives us an opportunity to add to our cleaning tool product offerings,” said John Aleva, president of Cequent Consumer Products. “We have been leaders in the automotive market for years and now we are strategically paving the way to become the leading manufacturer and distributor of cleaning tool products for both residential and industrial markets.”

Harper is the second cleaning tool brand Cequent has purchased this year. In February, Cequent bought Laitner Brush, a U.S. broom and brush manufacturer since 1855.

Harper Brush has been operating under Chapter 11 bankruptcy protection. The company makes brushes, push brooms, mops, buckets, dust pans, housewares, long-handled cleaning tools, microfiber/dusting tools, and eco-friendly cleaning products.

Harper filed for Chapter 11 protection at the end of May. In a May 31 news release, it said that it had been adding production capacity since 2002 to meet customer needs. It said that it lost a significant customer in 2010, and that along with added debt from expansion, created financial challenges.

In May it said that it had 70 full-time employees with locations in Iowa and Greenville, N.C. The North Carolina plant is no longer operating.

Crain's Cleveland Business contributed to this report.


Comments

Cequent buys Harper Brush assets

Published: December 6, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

OnePlastics Group brand created to cover seven different plastics firms

October 17, 2014 9:48 am ET

A Dublin-based company is launching a new brand to unify its plastics businesses into a single entity called OnePlastics Group.    More

Image

PolyOne denies report it's bidding for Klöckner Pentaplast

October 16, 2014 11:44 am ET

UPDATED — Compounding leader PolyOne Corp. is denying a report that it bid as much as $2 billion for film and sheet major Klöckner Pentaplast...    More

Image

Ameriform plans $7.5 million expansion

October 16, 2014 12:57 pm ET

Ameriform Inc. has earmarked $7.5 million to expand its thermoforming, extrusion and rotational molding operations in Muskegon, Mich.    More

Image

Pharmaceutic Litho & Label gets new private equity backing

October 15, 2014 2:41 pm ET

Ironwood Capital is making an investment in Pharmaceutic Litho & Label Co. Inc. in conjunction with an investment by Saugatuck Capital Co.    More

Image

Cosmo Films evaluating coating in US

October 14, 2014 6:00 am ET

Cosmo Films Ltd. may start chemical coating of films in the United States.    More

Market Reports

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our analysts provide insight on business trends, foreign investment, top end markets and plastics processing activity. The report also provides important data on exports, production, employment and value of plastics products manufactured.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events