CSW Industrials, Inc. announced that it has acquired substantially all of the assets of Deacon Industries, Inc., based in Washington, Pa. Deacon is a leading manufacturer of high temperature sealants and injectable packings with applications in a variety of industrial end markets, both on an emergency and maintenance basis. The purchase price and financial details were not disclosed.
“The acquisition of Deacon is a terrific example of acquiring best-in-class products which will allow CSW Industrials to better service customers in our existing end markets,” said Joseph B. Armes, Chairman and Chief Executive Officer of CSW Industrials. “The strength of our long-term relationships with our wholesale distribution partners is a strategic asset that can be leveraged through synergistic acquisitions of high-quality companies such as Deacon.”
“With the acquisition of Deacon, we have added a line of unique, high-performance products which will complement our existing sealant and injectable packing product lines in our Coatings, Sealants and Adhesives business segment,” said Christopher J. Mudd, President and Chief Operating Officer of CSW Industrials. “We expect to substantially grow Deacon’s market presence through CSW Industrials’ worldwide distribution network and its deep customer relationships in the industrial sector.”
“Deacon has worked hard to build a reputation in the marketplace for unmatched quality of service and superior product performance,” added Daniel Bruckner, Deacon’s president. “CSW Industrials shares a similar commitment to quality and customer satisfaction. We are extremely enthusiastic about the acquisition and the potential to build on Deacon’s historical success.”