Michelman, a global manufacturer of performance enhancing coatings, has acquired the Wagers Corporation. The transaction includes Wagers' color coating products, inks, intellectual property and sales. The acquisition bolsters Michelman's portfolio of water-based barrier, functional and white coatings.
"We see our agreement with Wagers as an excellent opportunity to strengthen and improve the company's position in decorative coatings and better serve our combined customer base," said Dr. Richard Michelman, vice president, new business development, Michelman.
To assure a smooth transition, key personnel from Wagers will be retained and key factory assets will be relocated from Wagers to a stand-alone operation in Cinncinnati, where Michelman is headquartered.