Business Operations Heat Treat Market: Kolene Corporation Acquires Upton Industries
Kolene Corporation, a global leader of custom-designed and engineered molten salt bath equipment and specialty chemical formulations, announces the acquisition of Upton Industries, located in Roseville, Michigan. This will allow Kolene to expand into applications and revenue segments where they have not historically been.
"Kolene has always looked for ways to grow revenues, both organically through our R&D efforts and externally by acquisition. When the opportunity presented itself to begin discussions with Upton, the similarities between the two companies and what we provide to the customers in the industries that we serve, made this marriage ideal," said Roger L. Shoemaker, Chairman & CEO of Kolene. "We are proud to carry on Upton's strong brand and legacy as a part of Kolene Corporation as we move forward."
Founded in 1937, Upton Industries are experts in the design and manufacture of thermal processing systems in the Metal Heat Treating industry. Upton's Engineered Thermal Solutions methodology has allowed the company to become a leader in traditional lines of heat treat equipment including box type, car bottom, lift-off and specialty furnaces utilizing either electric heating or gas-fired systems. Kolene will maintain both the Detroit headquarters location and the Roseville location, which will be home to all Kolene's manufacturing and fabrication. By bringing the two companies together, the new Kolene will house nearly 50,000 sq. ft. of manufacturing, fabrication, and commercial processing capabilities.
W. Scott Schilling, Kolene's President said, "After thoroughly evaluating Upton's capabilities, it was apparent that there are tremendous synergies between the two companies. Capitalizing on these synergies will allow Kolene to expand into applications and revenue segments where we have not historically been. Kolene will also have the ability to become more vertically integrated due to Upton's manufacturing and fabrications capabilities, which will allow us to strengthen our overall margins. The two companies are a perfect fit."
In its 82nd year, Detroit-based Kolene Corporation provides custom-designed and engineered equipment, specialized chemical formulations, and processes for cleaning and conditioning metal surfaces. Kolene's products are used worldwide for casting cleaning, alloy descaling, coatings removal, engine rebuild and other demanding automotive, industrial, and military applications.