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|Tyco International to Acquire Chemguard, Inc., a Leading Provider of Fire Suppression Products and Specialty Chemicals|
SCHAFFHAUSEN, Switzerland, July 19, 2011 /PRNewswire via COMTEX/ -- Tyco International Ltd. (NYSE: TYC) announced today that it has reached an agreement to acquire privately-held Chemguard, Inc., a leading provider of firefighting foam concentrates and equipment, foam systems, services and specialty chemicals. Chemguard will be integrated into Tyco's Fire Protection Products business unit.
Founded in 1984 and based in Mansfield, TX, Chemguard is a fully-integrated provider of fire suppression products and specialty chemicals. In fire suppression, Chemguard produces an extensive line of foam concentrates as well as firefighting hardware and engineered foam systems for industrial, marine, petrochemical/energy, warehousing, forestry and airport hangar applications. The company's specialty chemicals portfolio includes fluorosurfactant and hydrocarbon products for firefighting and other industrial applications.
"This acquisition will expand Tyco's fire product and service offerings while advancing our overall strategy to increase our presence in our core security, fire and flow control platforms," said Ed Breen, Tyco Chairman and Chief Executive Officer. "Chemguard provides an excellent strategic fit with our fire suppression business where Tyco is a world leader in protecting people and property in industrial, commercial, institutional and residential facilities."
The Chemguard business consists of specialty chemical formulation, dry chemical blending and packaging, foam concentrate blending and packaging, hardware manufacturing, product testing and quality assurance. Through its acquisition of Williams Fire & Hazard Control, Inc. in 2010, Chemguard expanded its offerings to include high flow firefighting equipment and services, training and safety consulting. Williams has more than 40 years of experience in the industrial firefighting industry and is recognized worldwide for its expertise in the suppression of flammable liquid and gas fires.
"Chemguard is a respected industry leader with a talented team of professionals and a track record of developing innovative products and services to enhance fire suppression and safety," said Colleen Repplier, President, Tyco Fire Protection Products. "This acquisition will enable us to accelerate new product development, expand our geographic presence, deepen our technical expertise and broaden our product offerings and service capabilities."
The transaction is expected to close in the second half of calendar 2011. The transaction is subject to customary closing conditions including clearance under the Hart Scott Rodino Act.
ABOUT TYCO INTERNATIONAL
Tyco International Ltd. (NYSE: TYC) is a diversified, global company that provides vital products and services to customers around the world. Tyco is a leading provider of security products and services, fire protection and detection products and services, valves and controls, and other industrial products. Tyco had 2010 revenue of $17 billion and has more than 100,000 employees worldwide. More information on Tyco can be found at http://www.tyco.com/.
Chemguard is a global, full-service, ISO 9001:2000 Certified manufacturer of fire suppression foams, equipment, and systems; specialty pumps; and fluorosurfactant specialty chemicals. Known for advanced R&D, engineering/design expertise, quality manufacturing, and high-quality, field-tested products, Chemguard provides unmatched customer support. More information can be found at http://www.chemguard.com/ and http://www.williamsfire.com/.
SOURCE Tyco International Ltd.