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CarbonOne Technologies announces that the company has entered into a binding agreement to acquire the TekModo group of companies, TekModo Structures LLC and TekModo LLC.
TekModo is a manufacturer and distributor of advanced composite panels for use in the recreational vehicle, bus, marine and commercial transportation vehicle industries. The TekModo acquisition will bring manufacturing and marketing expertise to CarbonOne, along with direct access to potential end users of CarbonOne’s developed products.“This transformative acquisition will bring immediate revenue to CarbonOne and provides direct access to the manufacturing and distribution side of the advanced materials industry,” said John Proust, Chairman and Chief Executive Officer of CarbonOne. “Both companies are focused on producing high-quality, innovative materials and the associated manufacturing processes. With their combined expertise, CarbonOne and TekModo can realize the growth potential within TekModo’s existing products and customer base, while advancing a pipeline of near-commercial products with applications across a range of industries
About TekModo:TekModo manufactures and sells composite panels that are currently being used in the walls, roofs, floors and doors of RVs, buses and trailers. TekModo’s products are lighter, stronger and more durable than the wood products they replace, and are also resistant to water, mold and mildew. In addition, many of TekModo’s products can be produced in one continuous sheet, increasing the impact strength and eliminating the aesthetic and physical drawbacks of panel seams.TekModo’s head office and 50,000 sq ft manufacturing facility is based in Elkhart, Indiana, located within a 30- minute drive of 80% of its customer base.Through its manufacturing company, TekModo Structures LLC, TekModo has developed a number of advanced stage composite products that were introduced to the market earlier this year, with additional products in the pipeline.Through its distribution company, TekModo LLC, TekModo has exclusive North American distribution rights for two products in the markets they serve. SymaLITE is an automotive grade sidewall composite substrate engineered to replace wood panels for both exterior and interior walls, ceiling and floor structures. TekModo currently sells SymaLITE to several major RV manufacturers for use in sidewall substrates, front wraps and rear walls. CosmoLite, which is a TekModo branded product, is a semi-rigid, continuously reinforced fiberglass and thermoplastic composite designed to replace plywood in hard-roof membranes, floor substrate and external skins. TekModo currently sells CosmoLite to several major RV manufacturers, bus manufacturers and commercial trailer manufacturers.More information: www.carbononetech.com