Oct. 2, 2014: RectorSeal Announces Acquisition of Evolve Composites
Evolve Manufactures a Range of Products for HVAC Systems
DALLAS — RectorSeal Corp., a leading Houston-based manufacturer of chemical and specialty products for professional tradesmen, has acquired the Polyslab™, Evo-Crete™, and related HVAC brands from Evolve Composites Pty Ltd, based in Queensland, Australia. Evolve manufactures a range of products for HVAC systems. RectorSeal is a portfolio company of Capital Southwest Corp.
“The Evolve transaction is another example of RectorSeal’s demonstrated ability to identify and execute accretive, strategic acquisitions,” said Joseph B. Armes, chairman and chief executive officer of Capital Southwest.
The acquisition of Evolve’s assets represents the 26th acquisition by RectorSeal since 1991.
“We view this transaction as an opportunity to expand the breadth of RectorSeal’s HVACR offerings and establish a local presence to more effectively address the Australian market with RectorSeal’s complete product line,” said David Smith, president of RectorSeal.
Terms of the transaction were not disclosed.
For more information, visit www.rectorseal.com.
Publication date: 9/29/2014