FOCUS Investment Banking, our US Partner, advised Convergent Technologies LLC in the sale to Meridian Adhesives Group
Located in Orem, Utah, Convergent specializes in the manufacture of innovative high-performing concrete treatments and products. The company’s dynamic line of proprietary products includes hardeners, densifiers, finishes and adhesive promoting treatments. The company has served facility owners, contractors, architects and engineers since 2000.
Convergent will become part of Meridian’s infrastructure division, where it will provide its product lines to Adhesives Technology Corp., a manufacturer of construction and industry-related adhesives, and E-Chem, a company specializing in the design, manufacturing, marketing and supply of epoxy polymer products for concrete.
“We are excited to join Meridian Adhesives Group,” said Dal Hills, President of Convergent. “We believe Meridian’s extensive technological platform will provide the very best opportunity for us to better serve our customers and increase our footprint in the infrastructure market. We look forward to our strategic partnership with Adhesives Technology Corp. and E-Chem.”
“The addition of Convergent to Meridian’s infrastructure division further positions us to become a full-service provider of quality adhesives and high-performance coatings to our customers,” said Daniel Pelton, CEO of Meridian Adhesives Group. “We are aggressively focused on growth in the infrastructure market, and I am confident the skilled team at Convergent will bring momentum to that endeavor.”
“This transaction is well-timed as we anticipate major federal infrastructure projects as part of the government’s fiscal stimulus package,” said Jonathan Wilfong, Managing Director at FOCUS Investment Banking. “The combined Meridian-Convergent team should be a major contributor in this effort to rebuild America.”
“We’re proud to have played a role in putting these two well-matched companies together at such a pivotal time,” added Bob Beard, FOCUS Managing Director.
About Convergent Concrete Technologies
Convergent is recognized as the innovation leader in reactive silicate-based chemistry for concrete coatings. Facility owners, contractors, architects and engineers trust the unique chemical strengths of Convergent products. Headquartered in Orem, Utah, Convergent Concrete Technologies
is a global company with two manufacturing facilities in the U.S., with distribution in local markets worldwide.
About Meridian Adhesives Group
Meridian Adhesives Group is a leading manufacturer of high-value adhesive technologies. With a broad portfolio of dynamic solutions, Meridian serves the electronics, infrastructure, flooring, packaging and product assembly markets. The group’s operations are located in the Americas and EMEA, with a multitude of sales/service offices worldwide that are positioned to serve Meridian’s global customer base.