Teknor Apex adds color concentrates with latest acquisition

PAWTUCKET, R.I.—Teknor Apex Co. has made its second acquisition in five months, this time acquiring Lanier Color Co. for an undisclosed price.

Gainesville, Ga.-based Lanier makes color concentrates and specialty compounds, with a focus in the building and construction market. In a Dec. 1 news release, Teknor Apex President Suresh Swaminathan said that Lanier's "focus on superior quality and customer centricity directly aligns with our approach."

He added that when combined with his firm's acquisition of Dorum Color in August, the Lanier deal "will help us further accelerate our strategic objectives while giving our customers access to a greater level of diversified products and solutions."

In a Dec. 2 phone interview, Swaminathan said that Lanier "fits neatly into our company from a strategy perspective."

"Lanier is more into durable goods, like windows and fencing and decking, than we have been," he added. "For future trends, we need good balance."

The Lanier business will continue to operate in Gainesville, while working with Teknor Color's manufacturing sites in Kentucky and Texas. Lanier employs 100 at a 50,000-sq.-ft. site in Gainesville.

"Joining forces with Teknor Apex allows us to focus our combined resources on bringing effective and innovative solutions to the market," Lanier President John Cothron said.

Cothron had owned Lanier along with three other company executives. All four officials will remain with Teknor Apex after the sale.

The deal for Akron, Ohio-based Dorum brought Teknor Apex more business in rotational molding. Dorum customers now are supplied from a Teknor Apex plant in Henderson, Ky.

Swaminathan said that Teknor Apex "is always looking" for acquisitions, but he added that the firm makes deals "not just to bulk up … acquisitions need to be involved in our strategy."

Late last year, Teknor Apex opened a major new compounding plant in Rothenburg, Germany. The plant covers 538,000 square feet, employs 150 and operates eight twin-screw extrusion lines. The new site makes compounds based on a wide range of thermoplastic elastomers and engineering resins.

Pawtucket-based Teknor Apex is one of North America's 30 largest compounders and concentrate makers. The firm operates 13 plants worldwide in the U.S., Belgium, Germany, China and Singapore and has annual sales of more than $1 billion.