Cleaning & Restoration Breaking News

Ronile completes Colormarks deal, buying competitor assets

January 30, 2002
/ Print / Reprints /
ShareMore
/ Text Size+
Ronile Inc., a leading supplier of space-dyed yarns to the commercial carpet industry, completed the acquisition of certain assets from its competitor, South Carolina-based Colormarks.

ROCKY MOUNT, Va. -- Ronile Inc. (www.ronile.com), a leading supplier of space-dyed yarns to the commercial carpet industry, completed the acquisition of certain assets from South Carolina-based Colormarks. Terms of the transaction have not been disclosed.

Colormarks competed directly against Ronile in the business of manufacturing and selling space-dyed yarn to the commercial carpet industry. Prior to the acquisition, Colormarks operated a production facility in Williston, S.C., and generated annual sales of more than $10 million. Ronile did not purchase the Williston facility. Instead, it is moving the purchased assets, including factory equipment, to its Rocky Mount, Va. plant. Ronile plans to integrate the Colormarks business into Ronile's existing operations.

Ronile CEO Phillip C. Essig, said, "We are pleased that we were able to take advantage of this opportunity in today's economy. We are strong financially and believe that the current environment may provide additional opportunities. Colormarks has been a strong competitor for over a decade and has maintained a significant market share during that time. We expect business to increase significantly at our Rocky Mount plant over the next several months. As the economy rebounds and we fully consolidate the new business opportunities, we expect our business to be stronger than anticipated in 2002."

Ronile, an employee-owned company, is the world's leading supplier of space-dyed yarns to the commercial carpet and other industries. Headquartered in Rocky Mount, Va., Ronile has a production plant in Lafayette, Ga. and its national sales office in Chattanooga, Tenn. Ronile also owns Bacova Guild, Ltd., a marketing leader in printed floor mats and accent rugs. For more information, contact Sylvia Bussey at (540) 484-4647.

Did you enjoy this article? Click here to subscribe to i Cleaning Specialist Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

The 2014 Experience Conference and Exhibition

A look in photos at the 2014 Experience Conference and Exhibition, which was held from April 24-26 at the Embassy Suites Convention Center and Spa in Frisco, Texas.

Podcasts

Have a limited marketing budget but realize the importance of neighborhood marketing? Try doorknob hangers, a low-cost, yet highly effective way to drum up more business. In this episode, John Braun discusses the value of this tactic as well as what you should include on the materials you're hanging.
More Podcasts

ICS Cleaning Specialist Magazine

CoverImage

2014 September

The September issue of ICS features stories on moisture detection, disinfectant services, neighborhood marketing, then we discuss the last level of being phenomenal, and cool products.

Table Of Contents Subscribe

Social Media

Social media is a good way to regularly keep in touch and interact with current clients and reach potential ones. What social mediums do you use in your cleaning/restoration business?
View Results Poll Archive

THE ICS STORE

Get Paid! book cover
Get Paid! (ebook)
Over 30 authors – over 40 articles…from attorneys, contractors, consultants, instructors and others, both inside and outside the restoration industry. R & R, C & R and Cleanfax, opened their archives and gave us the best they had, other chapters were created just for the “Get Paid!” book and its readers. And every one of them has ideas for how to get paid what you are owed.

More Products

ICS DIRECTORY AND BUYING GUIDE

Director_Buyer.jpgThe premier resource and reference guide for the cleaning and restoration industries.

Click here to view

TRUCKMOUNT EQUIPMENT AND ACCESSORIES GUIDE

Truckmount.jpgEquipment listings and specifications from the leading industry manufacturers.

Click here to view

STAY CONNECTED

facebook_40.png twitter_40px.png youtube_40px.pngcrc logo