The transaction covers GE’s proprietary formulations, finshed goods inventory and the AIM brand name. No buildings or manufacturing equipment were included in the deal. In addition, GE Sealants and Adhesives (GESA) will continue to manufacture products for Chapco during a transition period to allow production to be moved to Chapco’s Dalton, Ga. plant.
“This acquisition signals our confidence in, and our commitment to, the floor covering industry,” Kline said in a written statement. “We sincerely look forward to getting to know all the AIM brand accounts and becoming a valued vendor/partner to them.
“We will continue to produce and supply the same high-quality products they’ve come to expect from GESA.”
Chapco declined to comment on the value or terms of the transaction.