Endura Products to Buy Contact IndustriesDecember 12th, 2016 by Editor
Endura Products, a manufacturer of door components, has entered into a definitive agreement to acquire Contact Industries Inc. Financial terms of the transaction were not disclosed. The transaction is subject to customary closing conditions and expected to wrap before the end of the month.
Day-to-day local management of Contact Industries will remain unchanged.
“We are excited for the opportunities that this transaction brings to both Endura and Contact,” said Bruce Procton, president of Endura Products. “Like Endura, Contact Industries is a leader in the markets which it serves and provides its customers with innovative products that make a difference. The combination of the two companies provides us with a platform for continued growth in the product solutions we provide, as well as the customers and markets we serve. Contact’s unique products and capabilities, well-trained workforce, excellent management team and the highest-quality customers and suppliers make for a great fit with Endura. We look forward to continuing Contact’s tradition of being a good steward to its employees, community and the industry segments in which it operates.”
Established in 1954, Endura Products is headquartered in Greensboro, N.C., with multiple manufacturing facilities in North Carolina, Texas and Tennessee. It distributes products throughout the U.S. and Canada.
Headquartered in Clackamas, Ore., and operating from a 550,000-square-foot facility in Prineville, Ore., Contact is a manufacturer of engineered wood products specializing in thin veneer technology and lamination processes that use a variety of substrates. Contact’s products are incorporated into doors and windows, institutional and residential furniture, cabinetry and architectural projects.
“Endura Products is an excellent strategic partner for Contact Industries and will provide a strong foundation and additional resources to support our employees, customers and the community,”said Frank Pearson, CEO of Contact Industries. “The opportunity to team up with Endura will allow Contact to serve the customers of both organizations and to use our breadth of capabilities to provide innovative wood products solutions to a broader range of customers.”
Cary Street Partners served as financial advisor to Endura Products. NextGen Capital Markets acted as financial advisor for Contact. Womble Carlyle Sandridge & Rice acted as legal counsel to Endura Products. Cosgrave Vergeer Kester acted as legal counsel to Contact Industries.
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