Geocel Acquired by Sherwin-Williams
“It’s a transaction that will be disclosed later on when we file our 10-K and our 8-K on a quarterly basis,” said Mike Conway, director of communications and investor relations for Sherwin-Williams.
Geocel, which manufactures sealants, adhesives, and roof repair products for the RV aftermarket and OEMs, joins Sherwin-Williams' sizable group of diversified brands, which include Thompson’s WaterSeal, Krylon, and Minwax.
“The acquisition of Geocel is a great integration for the company and it adds some product lines that we did not have in the Sherwin-Williams portfolio. So it’s a natural fit,” Conway told RV PRO. “It has always been a part of our strategic vision to (acquire companies) that have, as in this case, technology that we did not have.
“This is a great win for us, for Geocel, and for all our customers out there,” he said.
Sherwin-Williams does not plan any immediate changes at Geocel, which will now report to the company’s “diversified brands leadership team,” Conway said.
“It’s business as usual,” he said. “They will operate just the way they’ve been operating day-in and day-out. They’ve just joined a team that they weren’t apart of before.”
Geocel now has the backing of a Fortune 500 company that operates more than 3,400 Sherwin-Williams paint stores in the U.S., Canada and Latin America. Sherwin-Williams is the No. 1 paint and coatings store in the U.S. and No. 3 in the world, according to Conway. The company also operates a global group of companies that provide powder and liquid coatings for plastic, metal and wood materials. In 2011, Sherwin-Williams reported revenues of $8.8 billion and its projected market value as of March was $11.4 billion, according to CNN.
“We see great opportunity for Geocel to continue to grow and expand now that they’re apart of the Sherwin-Williams family,” he said.