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Specialty chemical company Hawkins Inc (NASDAQ:HWKN) has completed the acquisition of Industrial Research Corporation.
Industrial Research distributes water treatment chemicals and equipment to its customers in central to northern Louisiana, eastern Texas, and southern Arkansas. The financial and other details of the transaction were not disclosed.
“As we continue to execute on our strategy to grow our water treatment business, we believe this tuck-in acquisition fills a geographical void in northern Louisiana and east Texas and will allow us to accelerate our growth in the surrounding regions,” said CEO Patrick H. Hawkins.
Hawkins held $5.7 million in cash and equivalents as of December 31, 2023.
Hawkins formulates, distributes, blends, and manufactures products for its Industrial, Water Treatment, and Health & Nutrition customers.
Price Action: HWKN shares are trading higher by 3.07% at $71.57 on the last check Monday.
Posted In: HWKN
