Wismarq Industries, LLC, a leading provider of coil coating services for metal products, announced today it has acquired the assets of Prior Coated Metals, Inc. (“Prior Coated Metals”). Headquartered in Allentown, PA, Prior Coated Metals is a leading producer of pre-painted steel and aluminum products, with a reputation for quality and service earned during its over 50-year operating history.
The new acquisition will increase Wismarq’s gauge range capability for a broad offering of applications, as well as bolster the Company’s geographical footprint into the Northeast corridor and provide additional value-added downstream processing and precision slitting capabilities. Now the third largest independent coil coater in the nation with six continuous production lines, Wismarq continues to execute upon its strategic vision to broaden both its geographic footprint and processing capabilities to better service its diverse, multi-regional customer base.
“The addition of the Prior Coated Metals assets to the Wismarq portfolio is perfectly timed to elevate and sustain the positive momentum we have created in 2016,” said Jim Dockey, Wismarq’s Chief Executive Officer. “This transaction will provide a continued catalyst for the disciplined growth strategy our company has pursued in the past year. The expanded geographical footprint, complementary capabilities, and incremental capacity provided by the acquisition will allow us to broaden our market presence while offering an even greater value proposition to our highly valued customers.”
Matt Homme, Managing Director of the holder of the majority interest in Wismarq, stated: “We believe that Prior Coated Metals is a transformative acquisition for the Company as it continues to successfully execute upon its strategic plan. Peninsula Pacific looks forward to continuing to support the outstanding Wismarq team as the Company expands upon its strong presence in the coil coating industry.”
About Wismarq Industries, LLC
Since 1982, Wismarq has been a trusted American source for quality coil coated steel and aluminum. With five facilities strategically located near Milwaukee, Chicago, Pittsburgh, Philadelphia and Memphis, Wismarq differentiates itself by offering a broad range of aluminum and steel coil coating services to the industry, across six distinctly different coating lines. Wismarq works with customers in diverse markets to offer industry specific services including wide and narrow coil coating, printing, slitting and embossing for a diverse range of building products, transportation, automotive, signage and lighting end markets. For further information about Wismarq, please visit www.wismarq.com.
About Peninsula Pacific
Peninsula Pacific is a private Los Angeles-based company specializing in customized capital solutions for both established and developing businesses in the consumer and industrial sectors. Peninsula Pacific seeks to capitalize, restructure, and ultimately build meaningful businesses in partnership with strong management teams. For further information about Peninsula Pacific, please visit www.peninsulapacific.com.
Wismarq Industries, LLC
Sunny Flynn, 740-705-1622
Product Analyst/Marketing Manager
Source : businesswire.com