Ardex pays $86 million for Armstrong’s IPG business
Armstrong said it will continue to sell a full installation system of products and adhesives under the Armstrong brand name. Armstrong and Ardex plan to maintain a strategic sourcing relationship that will allow both to continue to offer installation products.
Under the terms of the agreement, Ardex will continue to operate the three U.S. manufacturing facilities of Armstrong’s IPG division in Bourbonnais, IL; Dallas, GA; and Arlington, TX. The company will also operate the research and development operations based in Lancaster, PA. IPG’s 173 employees, including its management team, were offered the opportunity to join Ardex after the close of the transaction.