Koch Finalizes Guardian Purchase
Guardian Industries Corp. and Koch Industries Inc. today announced that Guardian stockholders have approved the acquisition of the company by KGIC Merger Corp., a wholly owned subsidiary of Koch Industries. The deal is an all-cash transaction for the remaining 55.5 percent outstanding shares of Guardian Industries’ common stock not already owned by affiliates of Koch.
“Guardian Industries and its employees have proudly served customers for 84 years, and we have benefited a great deal from Koch’s robust guidance and infrastructure since its initial investment in 2012,” says Ron Vaupel, president and CEO of Guardian. “Our companies align in many areas including culture, global footprint and supply chain. We are excited to continue working together to create value for our customers and society.”
“Working with Guardian’s dedicated employees has proven to be a rewarding experience,” says Dave Robertson, president and COO of Koch. “We look forward to combining the strengths and capabilities of Guardian and Koch to better meet the needs of our customers.”
“Guardian is a world-class organization and a leader in providing innovative products,” says Charles Koch, chairman and CEO of Koch. “This acquisition fits well with our culture and core capabilities. We look forward to Guardian fully joining the Koch Industries family.”
The transaction is subject to customary closing conditions including antitrust approval, and is expected to close in the first quarter of 2017. Additional terms of the deal were not disclosed.