Alum Bank, Pa.-based Creative Composites Group, a manufacturer of fiber-reinforced polymer composites, has acquired the assets of Springfield, Ohio-based United Fiberglass of America Inc. (UF), a manufacturer of fiberglass pipe, conduit and bridge drain infrastructure systems.
The $14 million deal expands CCG's capabilities and helps it reach more markets. CCG is a subsidiary of Hill & Smith Holding plc.
Founded in 1983, UF serves the public utility, transportation, commercial and technology markets with fiberglass products made by winding the material in exacting patterns that result in stronger and lighter structures compared with other materials, including steel, PVC, clay and copper.
UF's manufacturing approach complements the advanced manufacturing techniques CCG uses to produce custom components for utility, rail, bridge and waterfront applications, according to a news release about the deal.
UF was acquired from a charitable foundation.
"The acquisition of United Fiberglass is in line with our strategy of acquiring businesses within niche markets with strong long-term growth potential and doing so outside of a formal auction process," Alan Giddins, executive chair of Hill & Smith, said in the release. "United Fiberglass is a business we have known for many years and is an excellent fit with our existing, high growth U.S. composites business."
Founded in 1973, CCG develops lightweight, durable, cost-effective FRP products for structurally demanding uses and corrosive environments.
CCG Chairman/CEO Shane Weyant said the UF acquisition, which is the company's second this year, "will expand our composite manufacturing capabilities to service key infrastructure markets and enhance our capabilities to develop highly engineered composite systems."
This process is highly flexible and easily adaptable to create custom specifications efficiently.
UF employees and CEO Kevin Barnett will join the CCG team.
"This combination strengthens the group's leadership position in serving the broad FRP composites needs of the markets we collectively serve. Our team looks forward to working with CCG in building better and more resilient products for the nation's infrastructure and commercial needs," Barnett said.
Earlier this year, CCG acquired Enduro Composites to expand its geographic reach in the Western and Southwestern U.S. while also expanding its portfolio to include building panels, cable management systems and water/wastewater industry products.