Blome International News

Danish-based coating supplier Hempel announced a binding agreement today to acquire Jones-Blair Company. The transaction is expected to close in early March 2015, subject to regulatory approval. Jones-Blair Company, an industrial coating supplier located in Dallas, Texas, serves both oil and gas and construction markets. Hempel's Group President and CEO Pierre-Yves Jullien credited the pending acquisition with helping Hempel move toward its goal of becoming one of the ten largest coatings suppliers by the end of 2015.

Hempel has acquired Schaepman’s Lakfabrieken B.V, a Dutch supplier of specialized industrial, protective and decorative coatings. The acquisition is part of Hempel’s five-year growth strategy. Terms of the sale are undisclosed. According to Hempel , the acquisition will enable the company to benefit from Schaepman's expertise in protective coatings. Addtionally, existing Schaepman customers will gain access to Hempel's range of products and global support. Hempel's global presence will also ensure Schaepman's specialist products are available to a wider customer base. Hempel’s Group President and CEO Pierre-Yves Jullien, said, “We are focused on developing or acquiring new solutions that add real benefits to our customers. Schaepman represents what we were looking for.

Based on its recent analysis of the North American protective and marine coatings market, Frost & Sullivan recognized Hempel with the 2013 Growth Excellence Leadership Award. In 2012, Hempel exhibited double-digit revenue growth well in excess of 20% and increased its overall market share in North America to 9.5%. Frost & Sullivan noted that Hempel’s competitors’ revenue growth rates are more closely aligned with the base year total market growth rate of 2.1%. Hempel’s acquisition of Blome International in 2012 complemented its existing product lines, especially for the oil and gas industry.

Hempel Group reported that its revenues grew by 15% in 2012, despite facing a challenging world market, and the Group is still on track to achieve its long-term goals. The Hempel Group delivered an all-time high revenue of EUR 1,242 million in 2012. EBITDA reached a record high of EUR 126 million, an increase of 21 million compared to 2011. Net profit remained level with2011 at EUR 35 million. Pierre-Yves Jullien, Group President and CEO of Hempel A/S, commented, “Our performance over the last few years means we have a solid financial foundation for growth in the future…