LORD Corporation Completes the Sale of its
Resilient Floor Coatings Business to Akzo Nobel
MILWAUKEE - (November 7, 2008) LORD Corporation of Cary, North
Carolina, has completed the sale of its PhotoglazeŽ resilient floor
coatings product line to Akzo Nobel. PhotoglazeŽ has operations
in the US and UK, and is recognized as the technology leader in
UV curable coatings for vinyl flooring applications. Grace Matthews
advised LORD Corporation on the transaction.
"LORD's resilient floor coatings business is a great strategic
fit with Akzo Nobel from both a technology and product perspective,"
said John Beagle, Managing Director and Grace Matthews' chemical
practice lead. "In addition, it allows LORD to focus on its
core competencies and technologies in the aerospace and defense,
transportation, manufacturing and construction markets."
ABOUT LORD CORPORATION
Founded in 1924, LORD Corporation is a global developer and manufacturer
of products and technologies including devices for vibration and
motion control, specialty adhesives and coatings, and magnetically
responsive materials. With annual revenues of overe $725 million
and 2,600 employees worldwide, LORD is a widely known and well-respected
supplier to the transportation, aerospace and defense and selected
industrial markets.
ABOUT AKZO NOBEL
With revenues of over $19 billion and coating sales greater than
$11 billion, Akzo Nobel is the world's largest coatings manufacturer.
Akzo Nobel's decorative paints, performance coatings and specialty
chemicals are developed for most market segments, and command leading
market positions in nearly all of these segments. The company is
based in Amsterdam, the Netherlands, and employs approximately 60,000
people in more than 80 countries.
ABOUT GRACE MATTHEWS
Grace Matthews, Inc., a Milwaukee, Wisconsin based investment bank, provides merger, acquisition and corporate finance advisory services to private and public companies. Over the past decade, Grace Matthews has successfully completed over 150 transactions on behalf of clients ranging from private, middle-market companies to large, foreign or U.S.-based multi-nationals. For more detailed information on Grace Matthews, Inc., visit www.gracematthews.com.
CONTACT:
John Beagle, Managing Director
jbeagle@gracematthews.com
(414) 278-1120