January 8, 2013
HICKORY, N.C. (Jan. 8, 10:25 a.m. ET) — Foam product manufacturer group Hickory Springs Manufacturing Co. has acquired CE White Co., a manufacturer of seating products for the commercial/transit and school-bus markets.
As a result, Hickory Springs will expand its footprint in the transport seating market and provide customers with a complete seating solution, the company said.
Hickory Springs itself offers integrated solutions and components for furniture, bedding, transport and a growing number of diversified markets.
The deal “enhances opportunities for both companies as it leverages the core capabilities of each,” said Hickory Springs President and CEO David Colburn, in news release.
Colburn noted that the acquisition allows Hickory Springs to capitalize on its unique competitive advantage “as a producer of multiple components that can now be combined to create an integrated seating solution … bringing new opportunities to CE White in the process,” Colburn added.
Integration of the two companies will take place over the next 90 days.
Tony Everett, president and CEO of CE White, said the opportunity brings together the capabilities and resources of two well-established companies.
Everett added that Hickory Springs offers the seat – the metal frame and the foam – and CE White brings cut and sewn covers and experience as a seat manufacturer. The combined business will be able to offer integrated solution for the transport seating market, he feels.
CE White will continue to be headquartered in New Washington, Ohio, and Everett will report directly to Lee Lunsford, executive vice president and chief operations officer at Hickory Springs, to ensure a smooth and successful merger.