PRESS RELEASE
11 March 2015
Hempel’s acquisition of Jones-Blair
Company approved
The global coatings producer Hempel announced today that it has closed its previously
announced acquisition of Jones-Blair Company, a leading North American supplier for
the protective and waterproofing markets. In line with Hempel’s global growth strategy,
the acquisition will provide Hempel with a solid and diverse platform for the continued
development of its business in North America.
One of Hempel’s key objectives is to strengthen its presence in North America through organic
growth and acquisitions. The acquisition of Jones-Blair Company, located in Dallas, Texas,
supports this objective by accelerating Hempel’s growth in the region within its strategic
segments.
Hempel’s Group President and CEO Pierre-Yves Jullien comments: “We’re very pleased that
we have closed this transaction. Jones-Blair has a unique market position, great technical
knowledge and many years of experience. The acquisition will create the best conditions for us
to achieve our objectives in North America, and also supports our goal of consolidating our
position as a top global coatings supplier.”
This acquisition is Hempel’s third in the last four months. In December 2014, Hempel acquired
Schaepman, a Dutch supplier of specialised industrial, protective and decorative coatings. In
February 2015, it acquired its former toll manufacturer in South Africa, The Coatings
Manufacturing Company.
Joining forces
Jones-Blair’s business is focused on two distinct markets: oil & gas (industrial coatings) and
construction, especially waterproofing, through the NEOGARD brand.
According to Kim Junge Andersen, Hempel’s Group Executive Vice President & CFO, the two
companies’ product portfolios complement each other perfectly. “By combining our strengths,
we can serve our customers better and with more complete solutions compared to what each of
us could do on our own,” he says.
Jones-Blair’s CEO, Jeff Powell, comments: “We are excited about the acquisition and we look
forward to supporting Hempel’s growth ambitions. This is a win-win situation for both
companies. Hempel’s global presence will allow us to broaden our customer, product,
geographical and technological base.”
Strong local and global growth
Jones-Blair’s manufacturing facility in Dallas, Texas, will remain operational and will
complement production at Hempel’s factory in Conroe, Texas.
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PRESS RELEASE
The new plant in Dallas becomes Hempel’s 27th factory and is one of four new factories that
Hempel has added to its worldwide production footprint since 2014, as part of its
One Hempel – One Ambition growth strategy.
“We created strong growth momentum in 2014 and we will continue building on it,” Kim Junge
Andersen says, adding:
“2015 it is an exciting year for Hempel. We are celebrating 100 years of being a successful and
responsible business, and 2015 also marks the continuation of our growth strategy. Our focus
is still on growing our core segments – Decorative, Protective and Marine – and we have
launched several initiatives and products that will help us achieve our growth goals.”
Back in 2012, Hempel acquired the US-based protective coatings manufacturer Blome
International Inc. Hempel has seen significant growth in the Americas as a result and many
Blome products are now available to Hempel’s global customers.
Further to the acquisition of Jones-Blair Company, Hempel is adjusting its organisational
structure in order to continue to improve its market position in the Americas. Jeff Powell will
become a Hempel Group Vice President and will take over responsibility for Hempel’s
organisation in North America.
Per mutual agreement, terms of the sale are undisclosed.
– ENDS –
Hempel media contact:
Malte V. Eggers
Group Communication Director
Hempel A/S
Phone: +45 4527 3976
Mobile: +45 2097 5809
Email: MEG@hempel.com
Notes to editors:
About Hempel
Hempel is a world-leading coatings supplier for the decorative, protective, marine, container
and yacht markets. From wind turbines and bridges to hospitals, ships, power stations and
homes, our coatings protect man-made structures from the corrosive forces of nature. Hempel
owns, among other companies, Crown Paints, Blome International Inc. and Schaepman.
With a focus on R&D, advanced production techniques and professional coatings advice, we
work around the globe to help keep our customers’ investments safe and attractive for a long
time. Our working concept is simple: We are curious, creative and self-critical, and we always
aim to create extra value for our customers.
www.hempel.com
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PRESS RELEASE
About Jones-Blair
Jones-Blair Company is a fully integrated research, manufacturing and marketing organisation
headquartered in Dallas, Texas. Jones-Blair consists of two divisions: (1) JONES-BLAIR High
Performance Coatings for industrial OEM, maintenance applications and corporate re-imaging
coatings, and (2) NEOGARD surface-applied waterproofing, seamless epoxy flooring,
elastomeric roofing and wall coating systems.
Since 1928, Jones-Blair’s mission has been to provide the business community with the highest
quality products accompanied by unparalleled customer service. Its record of longevity and
growth speaks volumes about the accomplishment of these simply stated goals; however,
customers deserve to know the business philosophy that drives the company’s success. After
all, any product, sold to any customer, has but one purpose – to provide a solution to a
problem.
www.jones-blair.com
Fact sheet: Hempel
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Hempel is a world-leading coatings supplier working in the decorative, protective,
marine, container and yacht markets
Hempel’s coatings help protect man-made structures – from wind turbines and bridges
to ships and homes – from the corrosive forces of nature
Hempel has 26 factories, 48 sales offices and more than 150 stock points
Present in more than 80 countries, Hempel employs over 5,200 people
Hempel owns Crown Paints, Blome International Inc. and Schaepman
In 2013, Hempel North America received Frost & Sullivan’s Growth Excellence
Leadership Award. The key performance drivers considered were: effective leverage of
acquisitions, focused global approach and customer centricity
Hempel financials for 2013:
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Revenues of USD 1,645 million
EBITDA of USD 219 million, the highest in Group history
Operating profit up from USD 110 million to USD 165 million
Net profit increased by USD 39 million to USD 86 million
Fact sheet: Jones-Blair
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Jones-Blair is a niche coating supplier working in the oil & gas, protective,
waterproofing, roofing and flooring markets
Jones-Blair’s coatings help protect steel and concrete structures such as oil field
equipment, heavy equipment, parking structures and stadiums
Jones-Blair is vertically integrated and develops and manufactures many of its own
proprietary resins
Located in Dallas, Texas, Jones-Blair employees over 200 people
Jones-Blair markets its coatings under the Jones-Blair Industrial and NEOGARD
Construction Coatings brands
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