Following the August 22 official announcement by Raven Industries that it had signed an agreement to acquire Colorado Lining International, CLI President John Heap issued the following statement. (NOTE: Images and links added by Geosynthetica.)
CLI STATEMENT ON ACQUISITION
Earlier today, Raven Industries signed an asset purchase agreement to acquire substantially all of the assets of Colorado Lining International, Inc. with the intent to close the acquisition in September 2017. Raven Industries, Inc. was founded in 1956, and through its Engineered Films division, has established a well-known reputation for manufacturing and supplying high performance film and sheeting to major markets across the United States and abroad. Raven’s state-of-the-art manufacturing facility and proven product expertise offer the most innovative and targeted product solutions in the industry.
This acquisition will strengthen Colorado Lining International’s product offerings and expand their value proposition within the geosynthetic industry by joining forces with one of the most advanced geomembrane manufacturers in the nation. Raven will become a full-service geosynthetics provider offering product design, manufacturing, fabrication, and installation services. In addition to this internal installation capacity, we will continue to work with proven installers across the country to provide exceptional service. Being closer to the end user will allow Raven to develop better solutions and more innovative products for our customers.
As a customer, you will have more choices of specialty geosynthetic materials, fabrication, and installation options than ever before.
- Colorado Lining International and Raven will now have custom fabrication facilities located in four states including SD, CO, TX, and CA, with headquarters in Sioux Falls, SD.
- You can continue to work with the Colorado Lining International sales team.
- You can expect to receive the same comprehensive service as we integrate this acquisition, with additional product offerings coming soon.
- Raven’s advanced product development capabilities will allow you access to new custom design film and sheet solutions.
Colorado Lining International’s approximate 90 fabrication and installation team members will become part of Raven Engineered Films effective on day of close. Raven plans to integrate the Colorado Lining International team into their Engineered Films group, combining the fabrication capabilities and product selection. We will operate the installation services segment of Colorado Lining International under Raven Engineered Films. This will extend our sales and service reach in the geosynthetics industry and serve as a comprehensive source for our customers from initial product design and development, to full-scale manufacturing, fabrication, and installation.
Sincerely, John Heap
Sincerely, John Heap