Spears Manufacturing Acquires Coastline Plastics, LLC from Victaulic
Coastline to continue supplying CPVC pipe to Victaulic
Easton, PA, July 1, 2008 - Spears Manufacturing Company has acquired the assets of Coastline Plastics, LLC an affiliate of the Victaulic Company. Based in Yulee, Fl., Coastline Plastics is a leading manufacturer of CPVC pipe for fire protection, plumbing and industrial market applications.
Terms of the transaction were not disclosed. The company, which will now be known as Spears Coastline Plastics, will continue to supply CPVC pipe to Victaulic for sale in the fire protection market.
"Coastline Plastics has been a strong and growing player in the CPVC marketplace for many years," said Wayne Spears, Spears Manufacturing president and CEO, "and Coastline's CPVC pipe offering is a great compliment to Spears' fitting and valve product line. This acquisition positions Spears ideally as a total CPVC system supplier."
"This deal is a win-win for Spears and for Victaulic," said John Malloy, Victaulic president and CEO. "Victaulic's strength is in developing and marketing innovative mechanical piping products. We concluded Spears can bring considerably more scale
and
expertise to the engineering and manufacturing of CPVC pipe and fittings. The sale of Coastline permits us to stay focused on our strength while still continuing to sell CPVC pipe provided by the market's leading manufacturer and innovator of plastic pipe fittings."
Victaulic owned and operated Coastline Plastics, LLC for 10 years.
About SPEARS Manufacturing Company
Founded in 1969, Spears is a leading developer and manufacturer of thermoplastic valves, fittings and piping system components. Headquartered in Sylmar, Ca., Spears operates manufacturing and distribution facilities throughout the United States. For more information, please visit www.spearsmfg.com.
About Victaulic
Founded in 1925, Victaulic is the world's leading manufacturer of mechanical pipe joining systems. Headquartered in Easton, Pa., Victaulic has manufacturing and distribution facilities worldwide and employs 3,600 people. The Company develops innovative products for a full range of industrial, commercial and institutional piping system applications. For more information, please visit www.victaulic.com.
