Torginol, a manufacturer and marketer of decorative flake, quartz and other specialty products used in resinous flooring systems, has acquired Chips Unlimited, the second largest producer of decorative flake products.
Terms of the transaction were not disclosed.
Headquartered in Tempe, Arizona, Chips Unlimited has a footprint in high-growth domestic, international and specialty markets.
Jason LaBouve, Chief Executive Officer of Torginol, said, “Chips Unlimited has built a strong business under Larry Fischer and Michael Matt, and their team shares our commitment to quality and customer partnerships. We have highly complementary businesses and believe that this acquisition will yield significant benefits for Torginol’s customers, employees and shareholders. We are looking forward to this next chapter of our growth and to continuing our upward trajectory.”
Torginol was acquired in July by GreyLion, a U.S. private equity firm. Tom Testwuide Jr., Torginol’s chairman and owner, who acquired the company in 2001 retired following the sale.
Michael Matt, President of Chips Unlimited, said, “Jason and Torginol have done an extraordinary job scaling the company’s operations and suite of products while continuously going above and beyond to support their customers. They are the ideal partner to carry on the legacy of Chips Unlimited that Larry and I have built over several decades.”
Reinhart Boerner Van Deuren served as legal counsel to Torginol, and Dorsey & Whitney, LLP served as legal counsel to Chips Unlimited.
