Koch Completes Guardian AcquisitionFebruary 1st, 2017 by Editor
Koch Industries Inc. has completed its purchase of Guardian Industries Corp. after receiving all regulatory approvals for the transaction, the company announced today.
Koch initially acquired a 44.5 percent minority interest in Guardian in 2012 and purchased the remaining shares last November in an all-cash transaction. Additional terms of the deal were not disclosed.
Guardian brings new capabilities and expertise to Koch in several manufacturing and distribution industries. In addition to being one of the world’s largest producers of glass products, Guardian is also a leader in plastic coatings for the automotive industry and the distribution of specialty building products.
“Guardian began in 1932 as a small windshield company in Detroit and has since become an established leader, proudly serving a global customer base in multiple industries,” Guardian President and CEO Ron Vaupel said in a statement. “The combination of Guardian’s expertise and Koch’s existing capabilities and infrastructure provides a tremendous opportunity for all of us to create more value for our customers and the communities in which we operate.”
Koch CEO Charles Koch added that although it has worked with Guardian since 2012, “our progress together has scratched the surface.”
“Koch Industries’ philosophy is to invest in companies where there is mutual benefit for both entities as well as their customers,” she said. “Our capabilities will help Guardian better serve their customers, while their industry-specific experience and expertise will bolster Koch’s operations”
Guardian companies have nearly 150 locations in more than 25 countries and bring Koch’s employment total to more than 120,000 worldwide.
Guardian was in the news in 2016 after its float glass plant in Venezuela was seized by that country’s socialist government.
Koch Industries has also had facilities seized by Venezuela. In 2010, Koch’s Venezuelan fertilizer operations were taken over by the government of then-president Hugo Chavez. The company petitioned the World Bank’s International Centre for Settlement of Investment Disputes for relief in July 2011. A decision in the case is still pending.