News
October 22, 2004 - Homax Holdings, Inc. acquires Site B Co.
BELLINGHAM, WA, October 22, 2004 - Homax Holdings, Inc. has acquired Site-b Company, Ross Clawson, Homax’s President announced today.
Site-b Company, based in Spokane, WA, is a manufacturer and marketer of paint and compound mixers. Founded in 1998, Site-b innovated patented "mixing cage technology"™ and produces drill mixers used for mixing paint and viscous fluids. It offers two primary product lines: polypropylene and steel mixing cage mixers which handle mixing volumes from 1 quart to over 100 gallons. The company sells their products under the Squirrel Mixer® brand and other prominent brands through long-term private label relationships. Site-b products are sold at leading retailers including home centers, mass merchandisers, paint dealers, 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, and now Site-b Company. 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 Site-b complements Homax’s existing product lines and will enhance the company’s growth strategy. He commented, "Site-b has outstanding patented technology employed in their products. Their mixers are the best rotary mixers in the world. Homax recognizes the value of offering its retail customers and the consumer this superior quality product. Homax’s distribution and complementary painting tools form a natural fit for Site-b."
Mr. Clawson does not expect significant changes in the product line or existing customer relationships. Sales and customer service functions will immediately be transferred to Homax’s Bellingham office, while manufacturing operations will continue in Spokane.
For more information, please contact Catherine Carey of Homax at 360-733-9029.