Parcom and OmniMax reach an agreement on the acquisition of Euramax Coated Products
Parcom Capital has reached an agreement to acquire Euramax Coated Products from its American parent company OmniMax International. Euramax Coated Products is a leading provider of aluminum coil coating services to the architectural products, recreational vehicles and transportation markets.
Rick Brown, CEO OmniMax International: “We are excited to announce the sale of our Euramax Coated Products business. This was a strategic opportunity to sell one of our valuable and strong-performing businesses in Europe, which will allow OmniMax to further invest in its building products businesses in North America and United Kingdom. The Euramax Coated Products business has grown for years under OmniMax through a strong core of employees and assets. We wish all of them well under their new ownership group with Parcom.”
Parcom Capital provides specialist knowledge and guides companies through phases of sustainable growth and transformation. Kimon Baloumis, Investment Manager: “We are enthused to partner with Euramax, which we have gotten to know as an ambitious company with a strong focus on premium products and innovation. The company’s independent position in the value chain allows it to serve its customers with the highest level of quality. We see ample commercial opportunities with its differentiating product offering and look forward to actively support the team in the further development of Euramax’s potential.”
The transaction is subject to approval by anti-competition authorities and other customary conditions. The transaction is expected to close in the first quarter of 2020.