Hanes Geo Components reaches agreement to acquire Nilex, Inc.
WINSTON-SALEM, NC, November 21, 2022-
Hanes Geo Components, a wholly owned subsidiary of Leggett & Platt, has reached an agreement to acquire the majority of the business and assets of Edmonton based Nilex Inc. and its wholly owned subsidiary Nilex USA Inc. with a view to continuing to operate Nilex’s business on a going-concern basis. Nilex specializes in the distribution of products used for erosion control, stormwater management, subgrade stabilization, gabion systems, engineered walls, and the installation of containment liners. The transaction is subject to court approval in Canada and the US.
Under the proposed agreement, Nilex’s Canadian operations will be consolidated under Terrafix Geosynthetics, Inc. Founded in the 1970’s, Terrafix and Nilex were both pioneers in the distribution of geosynthetic materials. David Fuerth, President of Terrafix Geosynthetics, stated, “Nilex has long been a leading distributor of geosynthetics in Western Canada. We are excited to join forces and to provide the Nilex team a stable foundation from which to revitalize their growth efforts.” Nilex’s US operations will be consolidated under Hanes Geo Components, strengthening both companies’ ability to service the Colorado and Utah markets.
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