CDI Energy Products, a global leader in high-performance polymer product manufacturing, announced the acquisition of EGC Enterprises, a leading producer of graphite-based sealing products with locations in Ohio and North Carolina. The desired result of this acquisition will present an exciting opportunity to increase the global reach, operational expertise, and diverse array of services available to CDI and EGC’s customers worldwide. The transaction officially closed on January 31st.
“We see synergy within our two businesses and the chance to deliver greater value to our customers around the globe. EGC shares CDI’s commitment to safety and quality, and we look forward to driving innovation through future collaborative opportunities,” says Clint Metcalf, CDI President.
The acquisition of EGC fits into CDI’s strategy to expand its market share in industries with growing demand including power generation, general industrial, aerospace and defense, and water treatment while enhancing its flexible graphite capabilities. By acquiring EGC, CDI will aim to consolidate its graphite-based manufacturing and production, add more production capacity in its locations in Houston and Singapore, and expand its robust product line to include thermal management capabilities.
Hugh Slater, CEO of EGC commented, “As we continue to support our clients with best-in-class safety, quality, and service and offer our employees a fantastic place to work and further their careers, we are thrilled to start this new chapter with CDI. We will be able to elevate EGC to a whole new level with the support of CDI’s integrity, experience, and industry knowledge.”
Per the terms of the acquisition, EGC will integrate CDI’s safety, sustainability, and continuous improvement programs while continuing to operate as EGC Enterprises.
Citizens Bank served as the exclusive financial adviser to EGC during the acquisition process.