NEW BEDFORD, MA – The Nery Corporation is pleased to announce the successful sale of Vulcan Catalytic Systems, Ltd. and MDF Coating Systems, LLC to Heraeus Noblelight, LLC.
Both acquired companies are based in Portsmouth, Rhode Island. They manufacture and assemble gas catalytic infrared heaters, ovens and systems for industrial drying, heating and curing with a special focus on powder coating processes. Their products are also utilized in the automotive, marine, food and other manufacturing industries.
Company President Michael Chapman stated, “Vulcan Catalytic and Heraeus share a common goal: to consistently exceed customer expectations. Joining the Heraeus network will offer us numerous opportunities to introduce our products and expertise to new markets.”
Mr. Chapman also thanked Kevin A. Nery, CBB, CBI, M&AMI for his diligent efforts throughout the entire selling process at a celebration at the New York Yacht Club in Newport, Rhode Island.
Heraeus Noblelight, LLC, headquartered in Hanau, Germany, is a specialty light source business group, part of the Heraeus Precious Metals and Technology Group, the 160 year old global, private company. In 2013 Heraeus achieved revenue of £17 Billion and has over 12,500 employees in over 110 subsidiaries worldwide.
“With its acquisition of Vulcan Catalytic, Heraeus Noblelight is expanding its application know-how in the area of coatings, as well as its portfolio in the sphere of long-wave lights,” explained Rainer Kuchler, Managing Director of Heraeus Noblelight. “Vulcan Catalytic has decades of experience in development of gas catalytic systems, which, in certain application, are an ideally complement to our electric infrared product line. We plan to use our combined expertise to develop new solutions that offer long term benefits for our customers.”
The Nery Corporation, located in downtown New Bedford, MA provides professional advisory services to sellers and buyers of companies in Massachusetts and Rhode Island.
PUBLISHED IN THE SOUTHCOAST BUSINESS BULLETIN – JUNE 2014