Sealant and coating manufacturer Chase Corporation (Bridgewater, MA) has acquired 100% of the capital stock of C.I.M. Industries, Inc. (C.I.M.), which makes high-performance coatings and membranes, according to a September 8 announcement from Chase.
With a primary focus on the water and wastewater industry, C.I.M. has products that complement Chase Corporation’s product line of high-performance tapes and coatings, according to Peter R. Chase, CEO of Chase Corporation. “C.I.M. is consistent with our growth strategy of expanding our products and services to high-reliability coatings applications,” he said.
C.I.M.’s liquid-applied liners and coatings are also used in chemical containment, deck and pavement waterproofing, cooling tower, and related applications.
Chase Corporation, founded in 1946, is a publicly traded company (NYSE Amex: CCF) and a global manufacturer of tapes, laminates, sealants, and coatings for high-reliability applications.
C.I.M., a private manufacturer in business for more than 30 years, had revenues of $9.2 million in its most recently completed fiscal year, which ended December 31, 2008. The purchase was funded through a combination of cash, bank financing and a note payable to C.I.M. shareholders.
For more information, go to www.chasecorp.com and www.cimindustries.com.