CarbonOne Technologies Inc 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 composite panels for use in the recreational vehicle (RV), 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 products, the company says.

‘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 CEO of CarbonOne. ‘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.’

‘Collaborating with CarbonOne brings market visibility to TekModo's diverse product base and business plan and the capital market expertise required to grow the company,’ said Mary Wetzel, president of TekModo. ‘Additionally, integrating CarbonOne's advanced materials technologies with TekModo's manufacturing processes supports TekModo's objective of expanding its market share by introducing new composite products to the RV and transportation industries.’

This story is reprinted from material from CarbonOnewith editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.