ParexLahabra Inc announced the acquisition of the assets of Texas EIFS LC. Teifs will benefit from being part of a larger corporation by sharing product expertise and technical support, utilizing the multiple manufacturing locations available to all of the ParexLahabra brands, and developing new opportunities and growth prospects for its employees.
The acquisition of the assets of Teifs is consistent with ParexLahabra’s strategy, a mix of internal growth with new products, new services, expanded distribution channels, and external growth through the acquisition of performing companies that are active in the industry. In past years, ParexLahabra has acquired stucco manufacturers or brands such as La Habra Stucco in California, El Rey Stucco in New Mexico, Lonestar in Texas and Surewall in the southeast. Teifs will improve ParexLahabra presence in the Texas market while adding products, expertise, and a prime manufacturing location its current assets.
ParexLahabra has long recognized the need for a plant in Texas, one of the top three building markets and a key distribution location. The San Antonio plant will also be used to service all ParexLahabra customers in the Texas market. The merger will increase the product offerings of the ParexLahabra brands with the addition of interior products, such as paint and decorative finishes, as well as unique stucco products. Teifs customer base is predicted to be a strong advantage for ParexLahabra.
ParexLahabra’s immediate plans for Teifs are to continue to provide products and services, as well as promote teamwork between Teifs, LaHabra, Parex, El Rey, and Surewall brands. Like the other brands acquired by ParexLahabra, Teifs will maintain a strong presence in its existing market. The corporation will use its expertise to improve the Teifs product line, manufacturing, logistics and services.
PAREXLAHABRA ACQUIRES TEIFS
December 30, 2006