Wismarq Industries, a leading provider of coil coating services for metal products acquired the assets of Prior Coated Metals, Inc., a leading producer of pre-painted steel and aluminum products headquartered in Allentown, Pennsylvania.
Since 1982, Wismarq has been an American source for quality coil coated steel and aluminum. With five facilities strategically located near Milwaukee, Chicago, Pittsburgh, Philadelphia and Memphis, Wismarq differentiates itself by offering a broad range of aluminum and steel coil coating services to the industry, across six distinctly different coating lines.
According to Wismarq officials, the “new acquisition will increase Wismarq’s gauge range capability for a broad offering of applications, as well as bolster the Company’s geographical footprint into the Northeast corridor and provide additional value-added downstream processing and precision slitting capabilities…Wismarq continues to execute upon its strategic vision to broaden both its geographic footprint and processing capabilities to better service its diverse, multi-regional customer base.”
“The addition of the Prior Coated Metals assets to the Wismarq portfolio is perfectly timed to elevate and sustain the positive momentum we have created in 2016,” said Jim Dockey, Wismarq’s CEO. “This transaction will provide a continued catalyst for the disciplined growth strategy our company has pursued in the past year. The expanded geographical footprint, complementary capabilities, and incremental capacity provided by the acquisition will allow us to broaden our market presence while offering an even greater value proposition to our highly valued customers.”
Matt Homme, Managing Director of the holder of the majority interest in Wismarq, said, “We believe that Prior Coated Metals is a transformative acquisition for the Company as it continues to successfully execute upon its strategic plan. Peninsula Pacific looks forward to continuing to support the outstanding Wismarq team as the Company expands upon its strong presence in the coil coating industry.”