“Anchor has achieved outstanding organic growth, tripling its revenue in the past 15 years,” said Jeffrey Wolff, president and CEO of Anchor. “Now, we are talking about transformative growth – broadening our geographic reach through additional manufacturing facilities, new and complementary product lines to better serve our customers, and new materials to offer our customers a broader set of solutions.”
Under the terms of the partnership, The Jordan Company will become investors in Anchor. However, the Hermann family, who has owned Anchor for 56 years, will continue to have ownership as well.
“Anchor has been, and continues to be, a family business,” said Robert Hermann Jr. “We are excited to partner with The Jordan Company to help fuel Anchor’s continued growth and increase our trajectory. The Jordan Company possesses many of the same values, ethics, and long-term orientation that has been a hallmark of Anchor.”
The transaction is expected to close in July, 2019, subject to customary closing conditions.