nCoat, Inc., a nanotechnology company based in Whitsett, NC, has signed a definitive agreement to acquire all the capital stock of MCC, Inc. (Metallic Ceramic Coatings or MCCI), doing business in the marketplace under the brand of JET-HOT® Coatings.
nCoat, Inc., a nanotechnology company based in Whitsett, NC, has signed a definitive agreement to acquire all the capital stock of MCC, Inc. (Metallic Ceramic Coatings or MCCI), doing business in the marketplace under the brand of JET-HOT® Coatings. The combination of MCCI/JET-HOT and other nCoat operating companies, at current annual revenue levels, should achieve approximately two times nCoat's current revenue run-rate.
"The acquisition of MCCI/ JET-HOT, combined with High Performance Coatings, Inc. (HPC), our first acquisition in 2005, doubles our size and creates a highly competitive force in automotive, trucking and aerospace coatings," said Paul Clayson, chief executive officer of nCoat. "We can now add nano-coatings to the product mix of MCCI/JET-HOT and cross sell the best of the products of both companies.”
nCoat signed a stock purchase agreement to buy all capital stock in MCCI for $5 million cash and $1 million in nCoat common stock. Under the agreement, the acquisition is scheduled to close on June 29, 2007.
MCCI/JET-HOT®, headquartered in Philadelphia, Pennsylvania, develops, produces and applies a variety of high performance coatings products that include insulation, corrosion resistance, and abrasion and impact resistance, as well as lubricity properties. All coatings are applied at one of three regional production facilities located in Pennsylvania, Mississippi and Arizona.
For more information, call 866.435.8958 or visitwww.ncoat.com.
nCoat to Acquire Metallic Ceramic Coatings - Posted 6/20/07
June 20, 2007