Winston-Salem, N.C.-based Hanes Geo Components (HGC) announced in a press release issued last week that it has reached an agreement to acquire Terrafix Geosynthetics Inc.
The release noted that Toronto-based Terrafix will continue to operate under that nameplate; and that David Fuerth has been promoted from vice president of sales to president at Terrafix.
John Dowdell, president of HGC, said: “Terrafix is a clear leader within the Canadian market in the distribution of geosynthetic products. Their expertise in manufacturing of geosynthetic clay liners and their experience in liner installations offer important market expansion opportunities to the Hanes family of companies.”
Jerry Greene, president of Hanes Companies noted: “This acquisition is a continuance of our ongoing strategy to develop a North American distribution network for geotextile and erosion control products. Hanes Companies, and our parent company Leggett & Platt, are fully committed to growing our presence in this highly attractive market.”
The Terrafix move marks a continuation of acquisitions by HGC, including: ERO-TEX in 2014, A&R Geosynthetics (2013), CSI Geosynthetics (2012), and Price & Co. (2011)
Fuerth said: “We are excited to join the Hanes team. Our founder, Dennis Hewitt, built our company on a strong foundation of providing technical support and a high level of service to our customers. These are core values we see within the Hanes team as well. We anticipate a smooth operational transition followed by a renewed commitment to grow our position within the Canadian market.”
The press release described Hanes Geo Components as “a market leader distributing geotextile and erosion control products through 39 North American distribution locations. Hanes Geo Components is a business segment of Hanes Companies, a wholly owned subsidiary of Leggett & Platt. With corporate revenues of $3.75 billion, Leggett & Platt employees number over 21,000 at 130 manufacturing facilities across 19 countries.”