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

New medical firm buys Clairson Plastics

September 19, 2014 4:33 pm ET

Custom injection molder Clairson Plastics is being sold to a new start-up that plans to dive into the medical market with a new dialyzer, a key...    More

Image

Hong Kong's TK eyes expansion, may buy Nypro Tool operation

September 19, 2014 2:49 pm ET

Hong Kong-based mold maker and plastics processor TK Group (Holdings) Ltd. said it's reached a tentative agreement to buy a tooling factory in...    More

Exo-s buys injection and blow molder in Mexico, expands footprint

September 19, 2014 2:15 pm ET

Custom molder Exo-s Inc. has bought an injection and blow molding operation in San Juan del Rio, Querétaro, Mexico.    More

Image

Bayer spinning off plastics business

September 18, 2014 8:49 am ET

Bayer AG will spin off its MaterialScience plastics group into a separate, publicly-traded company within the next 12 to 18 months.    More

Image

P&G removing PE microbeads from its Crest brand toothpaste

September 18, 2014 1:57 pm ET

After months of prodding, Procter & Gamble Co., the makers of Crest brand toothpastes, say polyethlene microbeads will be completely removed from its ...    More

Market Reports

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

Shale Gas Market - Analysis of North American Region

This report highlights the impact of shale-based natural gas on the North American plastics market and features an in-depth analysis of production trends in the United States during 2013 and a forecast for 2014 and beyond.

Learn more

Thermoformed Packaging 2014 Market Review & Outlook – North America

This in-depth report analyzes economic and market trends, legislative/regulatory activity impacting supply and demand, business opportunities and threats, materials pricing, manufacturing technology, as well as growth strategies being implemented by thermoformed packaging companies.

Learn more

Upcoming Plastics News Events

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

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

More Events