Koch Industries has completed its acquisition of Guardian Industries, the company said Wednesday in a news release.
Koch initially invested in Guardian in 2012, acquiring a 44.5 percent minority interest in the company. It announced its plans to buy the company last November.
“Koch Industries’ philosophy is to invest in companies where there is mutual benefit for both entities as well as their customers,” Charles Koch, chairman and CEO of Koch Industries, said in a statement. “Our capabilities will help Guardian better serve their customers, while their industry-specific experience and expertise will bolster Koch’s operations.”
With the addition of Guardian, Koch companies now employ more than 120,000 people worldwide, with about 70,000 of those in the United States, the release said. Guardian companies have nearly 150 locations in more than 25 countries.
Terms of the deal were not disclosed.
Guardian Industries – which is privately held like Koch Industries – has its headquarters in Auburn Hills, Mich. It is involved in a variety of industries, including glass products, plastic coatings and specialty building materials, according to the release.
“Guardian began in 1932 as a small windshield company in Detroit and has since become an established leader, proudly serving a global customer base in multiple industries,” Ron Vaupel, president and CEO of Guardian, said in a statement.
“The combination of Guardian’s expertise and Koch’s existing capabilities and infrastructure provides a tremendous opportunity for all of us to create more value for our customers and the communities in which we operate.”