Bridgewater, Massachusetts - Tapes and sealants group Chase Corp. has acquired all the capital stock of C.I.M. Industries Inc., a private company whose high-performance coatings and membranes have been "keeping liquids where they belong" for over 30 years.
C.I.M. had sales of $9.2 million in the year ended 31 Dec 2008, said an 8 Sept statement from Chase Corp.
The purchase was funded through a combination of cash, bank financing and a note payable to C.I.M. shareholders, Chase Corp said.
C.I.M., based in Peterborough, New Hampshire, makes fluid-applied liners and coatings for applications that include: potable water, wastewater systems, chemical containment, waterproofing decks and pavements, water features, and cooling towers.
According to the company, C.I.M.'s line of unique low-VOC (volatile organic compound) polyurethanes "offers unmatched performance in chemical resistance and durability." They also enable extreme flexibility, giving a resilient, elastomeric, immersion coating that is essential to protect new and ageing infrastructure, the company added.
With a primary focus on the water and wastewater industry, C.I.M. has products that complement Chase Corp.'s high-performance tapes and coatings, according to the Chase statement.
"C.I.M. is consistent with our growth strategy of expanding our products and services to high reliability coatings applications. Potable water and wastewater systems are critical to preserve a vital resource that will continue to command investment well into the future," stated Peter Chase, ceo of Chase Corp. "We expect to add value to C.I.M. by leveraging our presence in key markets around the world," he added.
Chase Corp. of Bridgewater, Massachusetts, founded in 1946, is a global manufacturer of tapes, laminates, sealants, and coatings for high reliability applications.