Composites One has announced it has signed a purchase agreement to acquire essential composites distribution assets from Nexeo Solutions, and the Nexeo Solutions dedicated composites distribution employees will join Composites One.
With this transaction, Composites One will be able to offer its products and services to more customers in the U.S. and now, across all of Canada. Serving the entire composites marketplace including custom fabrication, marine, transportation, and aerospace markets.
Speaking on the deal Leon Garoufalis, President and COO of Composites One said;
We are looking forward to combining the talent and experience of both organisations and creating an even stronger platform to service all customers who produce products using traditional and advanced composite products. We will continue to work diligently to position ourselves as the supplier of choice to help our customers become more successful
The transaction is expected to close on or about July 1, 2014.