Boston, MA -- (ReleaseWire) -- 08/08/2007 -- Downer & Company, an international investment banking firm specializing in mid-market cross-border acquisition and divestiture advisory services, is pleased to announce that ParexLahabra, Inc., the leading Exterior Insulation and Finish Systems (EIFS) and architectural coatings manufacturer in the United States, has acquired some assets of Q.E.P. Stone Holdings, Inc. Downer & Company acted as financial advisor to Parex Group on this transaction which closed on July 17, 2007.
Parex Group, the French parent company of ParexLahabra, is an international manufacturer of premixed mortars for the construction industry. Q.E.P. Stone Holdings manufactures, markets and distributes specialty tools and flooring-related products for the global home improvement market. The assets acquired by ParexLahabra include manufacturing plants based in Fort Pierce, FL, and Dalton, GA.
"We are pleased to have uncovered this acquisition opportunity for ParexLahabra," remarked Karine Curtis Osorovitz, Managing Director with Downer & Company. "The Q.E.P. plants will complement Lahabra’s existing waterproofing and thin set mortar product offerings. Furthermore, this transaction demonstrates the ability of Downer & Company to realize strategic, international acquisitions for a French company," she concluded.
Ms. Curtis Osorovitz (Managing Director, Paris) assisted Parex Group with the acquisition.
About Downer & Company
Since its inception in 1975, Downer & Company, LLC, has gained distinction as a leading middle-market M&A firm focused on the execution of acquisition and divestiture mandates for international and domestic corporations and private equity firms. Downer & Company is headquartered in Boston, Massachusetts, and has offices in Paris, Dublin, Frankfurt and Sydney. Downer & Company received an award for transacting the “International Cross-Border Deal of 2004” and was recognized as the top Investment Banking Firm of 2003 by The Mergers & Acquisitions Advisor. Downer & Company's corporate headquarters are located at 60 State Street, Boston, MA 02109. For further information, visit www.downer.com.