W.M. Barr buys two product lines from Homax Cos.
July 31 , 2008 — Memphis Business Journal — W.M. Barr & Co. has bought the Jasco and Bix product lines from The Homax Cos. and its private equity owner, Olympus Partners, the company announced Thursday.
With the acquisition, W.M. Barr will move all manufacturing of the products from Ashland City, Tenn., and Chicago distribution to W.M. Barr’s facilities on Presidents Island, a Memphis industrial park, in the next 90 days, according to a release.
The move will increase employment by a number that has not yet been determined, the company said.
“This new acquisition gives us a 60 percent market share in the remover/stripper category,” said Rich Loomis, W.M. Barr president and CEO. “We’ll have a stronger presence on the West Coast and with key retail channels which opens a number of opportunities for our company.”
Jasco and Bix are branded paint removers and surface preparation products.
W.M. Barr is one of the largest privately held companies in Memphis, employing more than 300 people. It makes and distributes a variety of heavy-duty cleaning products, serving both consumer and industrial customers in the home improvement, household and automotive industries. The company has several manufacturing facilities and a distribution center in Memphis.