Johns Manville completes IIG acquisition
JM has completed its purchase of IIG.
Johns Manville (JM) may no longer need merger and acquisition consultants, as its purchase of Industrial Insulation Group (IIG) has been completed.
Chairman, president and chief executive officer of JM Todd Raba said expanding his firm's interest in IIG is one of the ways his company is "addressing customers' needs".
It is enabling his enterprise to offer "the industry's most complete line of insulation products", he added.
IIG was initially formed as a joint venture between the Calsilite Group and JM in 2002.
Previously, JM held a minority of IIG, but will now wholly own the entity and will operate it as a standalone limited liability company.
JM has been in business since 1858 and is a leading marketer and manufacturer of building and mechanical insulation products, as well as tools for roofing and nonwoven materials or fibres for industrial, residential and commercial purposes.
"We look forward to exploring opportunities to build on IIG's strong market position and expand its product portfolio," Mr Raba added.
Posted by David Gleck
Source: JM press release, August 7th