In a move that broadens its U.S. manufacturing base and global reach, Mannington Mills announced that it has acquired Amtico International.
“The acquisition of Amtico is an extremely exciting development for Mannington, as it not only brings a world-class organization into the Mannington family but also expands the company’s global market reach as well as the scope of its domestic manufacturing capabilities,” said Russell Grizzle, President and CEO of Mannington Mills, Inc.
“We look forward to being part of the Mannington organization,” noted Jonathan Duck, CEO, Amtico International, “and bringing together a wider product range, local manufacturing and excellent design for the benefit of all our customers. This really is a great fit between two companies.”
Grizzle also said that Amtico, based in Coventry, England with additional facilities in Atlanta, will maintain its brand identity and become a Mannington subsidiary. Operations at all Amtico locations will continue, he added.
www.rwbaird.com) served as the
exclusive financial advisor to Mannington Mills in the acquisition and related
debt financing. No other terms of the acquisition were disclosed.
Mannington acquires Amtico
March 5, 2012