October 24, 2008
New Haven, Connecticut – October 24, 2008 – Woodbridge, LLC. is pleased to announce the sale of its client Slickbar Products Corporation to Lamor Group. Slickbar Corporation manufactures and sells high-performance systems for oil spill containment and recovery, as well as a line of anti-corrosion products. Lamor is a leading supplier of oil spill recovery equipment and services.
Based in Seymour, Connecticut, Slickbar was founded in 1960 and built an international reputation for providing effective and reliable products to the world’s leading oil companies and ports. Lamor Group Ltd., headquartered in Vantaa, Finland, serves customers across the globe and operates production facilities in Europe, the U.S. and Asia. Slickbar will continue to operate as an independent brand and the management remains the same in both organizations. The acquisition strengthens Lamor Group’s position globally and will generate synergies with the existing activities, thus enabling both companies to improve their service excellence.
Commenting on the transaction in their recent announcement, Mr. Jari Ahoranta, Executive Vice President, Sales, Lamor Group, said: “Slickbar is a very well recognized and respected brand in the oil spill response industry. By using the synergies that Lamor Group Ltd. can offer, for example our production strategy, we believe that Slickbar can contribute with a very positive growth effect to the whole Lamor Group Ltd. We have very high expectations on the future development of Slickbar.”
Said Robert Koenig, president of Woodbridge, “This deal offers an excellent strategic fit for both companies. Slickbar gives Lamor entrée into its markets in China and the Middle East, and Lamor will provide Slickbar’s innovative product line with greater manufacturing capabilities and a new distribution channel.”
Woodbridge, LLC., an innovative, marketing-driven M&A firm, was founded in 1993 to provide divestiture and acquisition services to middle market companies.