RC Law Advised Spradling International in the Acquisition of CMI Enterprises’ Assets
RC Law advised Spradling International Inc., a leading supplier of vinyl products, in the acquisition of the business of CMI Enterprises through an asset transaction (including real estate assets), pursuant to a bidding process. Spradling, an Alabama-based company has four offices in the United States as well as in Germany, Spain, Ecuador, Colombia and Venezuela. CMI Enterprises has manufacturing facilities in Indiana and in North Carolina. CMI Enterprises was counseled by Berger Singerman, Miami office.
Client’s Press Release:
Pelham AL – July 12, 2021 – Spradling International, Inc.® is pleased to announce the asset acquisition of CMI Enterprises.
This transaction presents increased opportunities for the business and its employees to leverage and enhance the company’s portfolio providing an unparalleled array of products, services, and solutions including lamination, die-cutting, and high-frequency welding, The agreement also strengthens Spradling’s operational foot print in the Midwest and the Southeast with a presence in Elkhart, Indiana and Forrest City, N.C. that will better serve a growing client base in those regions.
“The asset purchase of CMI fits perfectly into Spradling’s long-term strategic goal of further developing our capabilities and strengthening our product innovation in ways that will benefit customers.” says Chuck Streich, President of Spradling International, Inc. “We have been friendly competitors for years, and now we look forward to working together as a team”.
Many CMI employees will now become part of the Spradling family, bringing an average of more than 15 years of experience in the industry, which will accelerate the combined company’s growth potential under the new business unit, Spradling Resources, focused on the commercial OEM sector.
Founded in 1964, Spradling International is a leading supplier of vinyl coated fabrics, servicing the automotive, marine, contract, and commercial seating markets. With corporate headquarters in Pelham, Alabama, Spradling supports an international community of customers from multiple worldwide office and warehouse facilities located in California, Michigan, New Jersey, Tennessee, Florida, Germany, Spain, Ecuador, and Venezuela. The company’s distribution network also extends throughout Canada, Australia, and the Pacific Rim.
Source: https://spradling.group/en-us/blog/spradling-announces-acquisition
