Regional company expands through strategic acquisition. AGI Industries, Inc. completed an Asset Purchase Agreement of Argo International Corporation effective January 6, 2017. This purchase meets the strategic objectives of AGI Industries, allowing it to expand its product offerings, geographic territory, and international sales while strengthening its market mix of customers.
The synergy gained from the existing relationship between the two companies will allow for a quick and seamless transition in operations. Both AGI Industries and Argo International bring employees with decades of experience in industrial distribution resulting in a world class company capable of bringing diverse resources across a broad range of products, services and engineered systems packaging.
This acquisition of assets by AGI Industries includes Argo International branch offices in Houston, TX; Gillette, WY; Mandeville, LA; Miami, FL; and Monterey, Mexico. The inclusion of Flowserve Pump and Mechanical Seals product lines in the Houston area and the potential to bring other existing AGI Industries portfolio products to that market, was a key factor in AGI Industries pursuing this acquisition.
New to AGI Industries, through this endeavor, will be the addition of an array of industrial electrical products anchored by several lines from world technology leader, General Electric Company. AGI Industries will also acquire other leading industrial brands of electrical products while benefiting from existing control panel manufacturing in the Houston facility, a capability which will serve to support all AGI Industries operations.
In addition to the expanded product responsibility, the acquisition adds sales territories in Mexico, Central, and South America giving AGI Industries an international footprint for sales of both the acquired products and existing AGI Industries products and services. AGI Industry’s other divisions, AGI Packaged Pump Systems and Hydroplex, should also see added benefits from this transaction.
For more information about specific products and services impacted by this Asset Purchase please visit our website, LinkedIn or Facebook.