Armstrong World Industries, paid $95 million in April to acquire 3form LLC, a manufacturer of architectural resins, glasses and other materials based in Salt Lake City, Utah.
Products from 3form, such as acoustic wall tiles, translucent glass and textured wall coverings, are expected to complement existing products from Armstrong World’s architectural specialties division, which accounts for about a quarter of company sales.
“With 3form’s deep capabilities in design, color, texture and sustainability, this acquisition meaningfully expands the unique, specifiable solutions we can provide architects and designers and increases our ability to sell more products into more spaces,” Armstrong World CEO Vic Grizzle said in a statement.
3form employs about 390 people, operates three factories and had sales last year of roughly $96 million, according to Armstrong World, a maker of ceilings and floors.
For the first quarter of this year, Armstrong World had sales of $326.3 million, up from $310.2 million a year ago. Profits also rose, jumping to $59.9 million for the most-recent quarter, up from $47.3 million for the year-ago quarter.
Based in Manor Township, Lancaster County, Armstrong World employs about 3,100 people and operates 16 plants in the U.S. and Canada.
What’s next: Armstrong World is expecting the economy to slow in the second half of this year. But thanks in part to the acquisition of 3form, Armstrong World is growing more bullish about 2024.
Armstrong World expects sales to grow 8% to 11% in 2024, up from a previous forecast of 3% to 6%.
The higher growth rates would put annual sales between $1.395 billion and $1.435 billion.
