Cohesant Technologies Acquires Triton Insitutech
05 Setembro 2006 - 9:39AM
Business Wire
Cohesant Technologies Inc. (Nasdaq:COHT) today announced that it
has completed the purchase of the operations and assets of Triton
Insitutech, LLC. The transaction represents another significant
step in the execution of Cohesant's long-term plan to be a global
leader providing technologies for the protection and renewal of
infrastructure. Triton, currently based in Orlando, Florida, is one
of the leading providers of services for the protection and renewal
of medium and large diameter water pipes using epoxy and other
polymer linings. The Triton SpinCast System is used to rehabilitate
aging water, wastewater and other pipelines, including public and
private water mains. Currently, the CuraFlo Engineered Flow Lining
System and the Raven Engineered System form the technology core of
the operations of CIPAR Inc., the Company's infrastructure
rehabilitation subsidiary. Like the CuraFlo System and the Raven
System, the proprietary Triton System combines specially designed
equipment with proven processes for the cleaning, preparation and
application of polymer linings to damaged pipes. Triton, which will
be known as Triton/CuraFlo after the acquisition, will become part
of the Company's CIPAR subsidiary based in Cleveland, Ohio, and
will benefit from a significant marketing relationship with the
Company's CuraFlo dealer network. Stewart Nance, former President
of Raven Lining Systems, will serve as the President of
Triton/CuraFlo division and Gary Sorohan, Founder and CEO of Triton
Insitutech, will serve as its General Manager. "Although this is a
small acquisition from a financial perspective, Triton marks an
important addition to CIPAR's tool chest", stated Morris Wheeler,
Chief Executive Officer of Cohesant. Mr. Wheeler further stated,
"We now have technologies suitable for the protection and renewal
of pipelines of all sizes and also other concrete infrastructure.
We can address potable water, wastewater and other applications in
both the public and private marketplace. With Gary Sorohan on our
team, CIPAR is poised to become a more significant player in all
these markets." Gary Sorohan stated, "Triton has always enjoyed a
mutually beneficial relationship with the CuraFlo and Raven
divisions of CIPAR. I am excited to become part of the Cohesant
team and with its additional resources take advantage of the many
opportunities before us." Cohesant Technologies Inc., based in
Indianapolis, Indiana is engaged in the protection and renewal of
drinking water distribution systems and wastewater collection
systems for municipal, industrial, commercial and residential
infrastructure, the design, development, manufacture and sale of
specialized dispense equipment systems, replacement parts and
supplies used in the operation of the equipment and the design,
development, manufacture and sale of specialty coatings. The
Company markets its products under numerous trade names including;
AquataPoxy, CuraFlo, CuraPoxy, GlasCraft, Guardian, Probler, Raven
and Triton/CuraFlo. Certain statements contained in this report
that are not historical facts are forward-looking statements that
are subject to certain risks and uncertainties that could cause
actual results to differ materially from those set forth in the
forward-looking statement. These risks and uncertainties include,
but are not limited to, a slow-down in domestic and international
markets for plural components dispensing systems, a reduction in
growth of markets for the Company's epoxy coating systems, customer
resistance to Company price increases, the successful integration
of the CuraFlo and Triton acquisition and the Company's ability to
expand its licensing and rehabilitation business.
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