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SIOUX FALLS, S.D., (September 1, 2017) — Raven Industries, Inc. (NASDAQ:RAVN) today introduced that it has completed the purchase of significantly all of the property of Colorado Lining global, Inc., founded in Parker, Colo. Raven completed a coins transaction, paying about $14 million with the capacity for up to $2 million in additional earn-out bills over the following 3 years. This acquisition will without delay align beneath the enterprise’s Engineered movies division, an modern manufacturer of polymer film and sheeting.
The acquisition complements the business enterprise’s geomembrane enterprise through extended provider and product offerings with the addition of new layout-build and installation service additives. As previously introduced, this acquisition will develop Raven Engineered movies’ enterprise model right into a vertically-incorporated,
complete-service answers provider for the geomembrane zone. Following the acquisition, Raven Engineered movies will function facilities in 4 states — South Dakota, Colorado, California and Texas — to similarly optimize and expand consumer services and logistics.
”we are excited to welcome the Colorado Lining worldwide crew to the Raven family and further make bigger our carrier and product services for the geosynthetics industry,” said Anthony Schmidt, vice president and preferred manager of Raven Engineered movies. “The cohesive crew dynamics among Raven and the CLI institution have made the close procedure seamless, and we plan to steadily leverage the advantageous synergies of the 2 corporations to boom usual price for our customers.”
Raven cautions readers not to place undue reliance on the sort of ahead-searching statements, which talk handiest as of the date made. Raven disclaims any responsibility subsequently to revise any ahead-searching statements to mirror activities or circumstances after the date of such statements or to mirror the incidence of predicted or unanticipated events.
At the same time as this release is based totally on control’s quality judgment and modern expectations, actual effects may vary and contain a number of risks and uncertainties. Critical elements that could motive real consequences to vary materially from the forward-looking statements encompass, without challenge: