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Emerald Group Publishing Limited
Copyright © 2008, Emerald Group Publishing Limited
Exousia makes first North American acquisition
Article Type: Industry news From: Pigment & Resin Technology, Volume 37, Issue 4
Exousia Advanced Materials, Inc. has acquired all of the assets of Aegeon, LLC. Aegeon is engaged in the manufacture, marketing, sale and distribution of specialty industrial coatings and sealants.
Aegeon is an industrial coatings manufacturing and distribution company with more than 50 years of service to the petrochemical, oil and gas and off-shore industries. They currently produce and distribute 200 coatings formulas including severe-environment protection. “For a company of this size, the enormous product selection demonstrates Aegeon’s vast knowledge of the intricacies of the coatings industry,” said Exousia’s Vice President of Marketing, Rod Watkins.
“Aegeon approached $2 million in sales in 2007,” said Exousia CEO J. Wayne Rodrigue. “As an established profitable company, this acquisition is immediately accretive to both revenue and earnings for Exousia from Aegeon’s existing domestic operations. We’re already approaching new customers and I anticipate strong growth as we implement our marketing strategies. Between the Aegeon acquisition and projected revenue already under contract from China we look forward to a promising year in 2008.”
“This is an important acquisition for Exousia,” added Watkins. “It gives us immediate access to established distribution channels to market our industrial and extreme-environment coatings with Vistamer in North America. We are encouraged by the strong interest we have received from potential new customers and look forward to expanding Aegeon’s revenue base.”
Aegeon is located in the Gulf Coast area of Texas. This location was selected for its proximity to the numerous oil drilling and refining companies and the pervasive amounts of heavy equipment required for these industries. Aegeon’s industrial coatings provide protection from exposure to the corrosive industrial environment and the Gulf’s severe weather conditions.
Vistamer Rubber Engineered Particles are additives used to enhance the performance characteristics of urethanes, epoxies and adhesives. Exousia’s industrial coatings are a family of high-performance epoxies that are formulated with Vistamer Engineered Particles.