Flooring tools and accessories maker Q.E.P. Co. Inc. said it has entered into an agreement with Halex Corp. to purchase Halex's Capitol USA adhesives division. In exchange, Q.E.P. paid cash, entered into a four-year promissory note and transferred all assets of its Roberts carpet seaming tape manufacturing business to Halex, including a license to use the Roberts trademark in Halex's distribution carpet seaming tape business.
The acquisition of Dalton, Ga.-based Capitol USA will allow Q.E.P. to "augment the current capacity to manufacture critically needed adhesives for Q.E.P.'s expanding business," the company said, and noted that Capitol USA's 104,000 square-foot warehouse will provide a strategic location to support Q.E.P.'s continued growth.