Composites One Now Wholly-Owned by Synergy 55 Corporation
Synergy 55 has acquired the shares of Composites One LLC previously owned by Total through an acquisition vehicle, GLS Composites Distribution Corporation
Arlington Heights, IL, May 1, 2012. Composites One LLC announced today that it is now wholly-owned by Synergy 55 Corporation. The shares of Composites One, previously owned by Total Corporation through its affiliate CCP Composites, were acquired through an acquisition vehicle named GLS Composites Distribution Corporation which is owned by Synergy 55. Synergy 55, owned by the Dehmlow family, has more than 70 years of distribution experience.
The purchased shares were part of the Composites One LLC joint venture which was created in 1999 when GLS Composites Distribution Corporation and CCP Composites joined their composites materials distribution businesses in North America. That partnership gave Total/CCP a 51 percent share of the financial interest in Composites One LLC, but voting control was equally shared between the two companies.
“Synergy 55 Corporation acted as the operating partner over the 13 years Composites One conducted business as a joint venture, so there will be no change in market strategy, operating management structure or philosophy,” said Steve Dehmlow, Synergy 55 Owner and CEO of Composites One. “We have nothing but the highest level of respect for Total and CCP Composites. They were great partners sharing our core values while operating with a full commitment to safety and maintaining integrity in all relationships.”
Composites One is the nation’s leading distributor of composite materials serving customers in more than 30 locations in North America. Composites One offers composites fabricators and molders thousands of products from more than 500 of the industry’s top suppliers through a technical sales and customer service force that is the most knowledgeable in the industry. The company offers a variety of value-added services that include closed mold technologies, technical applications reviews, and unmatched regulatory compliance assistance. Composites One is headquartered in Arlington Heights, IL. To find more information visit www.compositesone.com or call 800-621-8003.
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