News
October 25, 2004 - Homax Holdings, Inc. acquires assets of Bix Manufacturing Company
BELLINGHAM, WA, October 25, 2004 - Homax Holdings, Inc. has acquired the assets of BIX Manufacturing Co., Ross Clawson, Homax’s President announced today.
BIX Manufacturing, based in Ashland City, Tennessee, is a manufacturer and marketer of paint strippers and specialty cleaning products. Established in 1957, BIX develops and markets removers for stripping paint, stains, and clear finishes under the BIX brand. BIX strippers and removers are sold in semi-paste, liquid, and spray-on formulas through leading retailers, including home centers, mass merchandisers, and hardware stores.
Homax Holdings, Inc. is a leading supplier of high-quality, consumer friendly, specialty-consumer and contractor products, including drywall texturing and repair products, painting accessories, paint strippers, steel wool abrasives, specialty removers and cleaning products, and kitchen and bath accessories. Homax Holdings companies include Homax Products, Magic American Products, Gonzo Corporation, Jasco Chemical Corporation, Krusin International, Tile Care Products, Rhodes American Products, Site-b Company, and now BIX. These companies sell products to professional painters, decorators and consumers through paint stores, home centers, mass merchandisers, hardware stores, and specialty retailers.
Homax Holdings, Inc. is owned by Olympus Partners, based in Stamford, CT. Olympus Partners, with approximately $1.2 billion under management, is a 15-year-old private equity firm focused on long-term growth.
Ross Clawson, President of Homax Holdings, said the acquisition of Stone Care International will enhance the company’s growth strategy. He commented, "This is a great opportunity for Stone Care International and Homax Holdings. The acquisition of Stone Care International will enable us to further expand in the flooring and countertop care markets with another top-selling nationally recognized brand, as well as enhance our reach into tile and stone specialty retailers." Mr. Clawson also expects expansion of existing SCI product lines through new product development.
For more information, please contact Catherine Carey of Homax at 360-733-9029.