Expanded polystyrene products firm ACH Foam Technologies LLC of Denver has acquired Allied Foam Products in Gainesville, Ga., boosting ACH's presence in the Southeast.
The deal, announced June 30, will close during the week of July 24. Officials would not disclose the purchase price.
ACH Chief Executive Officer Ted Dann said the business initially will operate as Allied ACH, and then within six months it will be taken under the ACH name. It will continue to operate from an 85,000-square-foot facility in Gainesville, where it employs 30.
``ACH is positioned to develop regional and national supply agreements in the construction and industrial markets,'' Frank Kiesecker, vice president of sales and marketing, said in a news release. ``The Allied acquisition will expand growth opportunities in the construction, packaging and [original equipment manufacturer] markets in the Southeast.''
Jim Clark, founder of Allied Foam, will stay on with ACH to head the operation in Georgia.
Clark said ACH will introduce its shape molding, film and garage door laminating capabilities to Allied.
``They are in so many markets across the country that they have developed expertise and manufacturing capabilities in about every EPS product that I am familiar with,'' Clark said.
Last year, the firm expanded its facility in Kansas City, Kan., and Dann said more projects could be on the drawing board.
``I would suggest that our plans are to continue to expand in certain locations as the market demands and requires,'' he said. ``We do plan to grow, in excess of 10 percent year-on-year.''
ACH officially was formed one year ago when three EPS companies merged. Plants in Fond du Lac, Wis.; Washington, Iowa; and Waukegan, Ill., came from Heartland EPS Inc. Advance Foam Plastics Inc.'s facilities were in Denver; Murray, Utah; and Sparks, Nev. The company's sites in Newton, Kan., and Kansas City came from Contour Products Inc.
``The merger worked out just fine,'' Dann said. ``It exceeded everyone's expectations.''
Including the Gainesville site, ACH now employs more than 500 and has sales of about $100 million, Dann said. Its products include structural insulated panel, protective packaging, R-Control-brand roofing products and the Ultrascreen sight and sound barrier wall.