Brady Corporation Acquires Sorbent Products Co., Inc.
MILWAUKEE (April 17, 2007)–Brady Corporation (NYSE:BRC) has announced that it has acquired Sorbent Products Co., Inc. (SPC) headquartered in Somerset, NJ. Terms of the transaction were not disclosed.
SPC is a leading manufacturer and marketer of synthetic sorbent materials used in a variety of industrial maintenance and environmental applications for spill clean-up, containment and control. Available in a variety of shapes, sizes and configurations, SPC sorbents and spill kits are used indoors and outdoors in virtually every type of industrial market and environmental sector. The company, founded in 1977, has operations in the U.S., Belgium and Hong Kong. With sales of approximately $47 million in 2006, SPC employs 170 people.
The acquisition of SPC allows Brady to broaden its product portfolio for the MRO market, enhance its position as a provider of products that protect premises, and further add value for Brady distributors.
“We are excited to add sorbents to our product offering of safety and facility products sold through our distribution partners. These are highly successful and important consumable products that will help to further grow the wide range of other Brady products that identify and protect the premises of our customers,” said Matt Williamson, president, Brady Americas. “SPC is a customer-driven company committed to their distributors and is focused on quality products that will fit well with Brady’s culture of exceptional performance.”
“We’re delighted to join the strong team at Brady. After 30 years as a family business, we can now move to the next level in partnership with a company that has a strong global infrastructure, a diverse customer base and a wide range of MRO products. This is a great opportunity for both our employees and our customers,” said Mike Hobin, president, Sorbent Products.
Brady Corporation is an international manufacturer and marketer of complete solutions that identify and protect premises, products and people. Its products help customers increase safety, security, productivity and performance and include high-performance labels and signs, safety devices, printing systems and software, and precision die-cut materials. Founded in 1914, the company has more than 500,000 customers in electronics, telecommunications, manufacturing, electrical, construction, education, medical and a variety of other industries. Brady is headquartered in Milwaukee and employs more than 9,000 people at operations in the Americas, Europe and Asia/Pacific. Brady’s fiscal 2006 sales were approximately $1.018 billion. More information is available on the Internet at www.bradyid.com, and www.sorbentproducts.com.