Wood care products maker, Basic Coatings, acquired by Betco
"With the addition of the Basic Coatings wood care product line and industry recognized expertise, we strengthen our current leadership position in floor care," said Betco's CEO Paul C. Betz. "The technology transfer that will exist will benefit both product lines."
In an effort to maintain the established customer base of both lines, plans call for the each to be marketed through the distribution networks already in place for the two brands. While both companies market through janitorial and paper distribution channels, Basic Coatings also relies on wood flooring distribution networks.
In addition to floor care products and equipment, Betco also sells skin care and other specialty chemical products. In November 2004, the company acquired PowerBuff Inc., a Stoneville, N.C.,-based maker of propane and battery electric floor care equipment.
Betco officials say the addition of Basic Coatings is expected to generate combined revenues approaching $100 million.