MARSHFIELD, MO – Architectural Components Group Inc. has agreed to be acquired by Armstrong World Industries Inc.(NYSE:AWI), based in Lancanster, Pennsylvania.
Financial terms of the deal were not disclosed. The purchase is expected to close by March 31.
Architectural Components Group, based in Marshfield, Missouri, is a designer and manufacturer of custom architectural specialty wood ceilings and walls. The company has annual revenue of about $35 million and about 160 employees. It was founded in January 2001 by its president, Gary Thompson.
Thompson will remain with Armstrong as a consultant for a period of time to ensure a smooth transition, said Jennifer Johnson, a spokeswoman for Armstrong World Industries. She said employees of Architectural Components Group will keep their jobs.
Armstrong World Industries is an international designer and manufacturer of commercial and residential ceiling, wall and suspension systems. Armstrong posted a profit of $215.5 million on revenue of $736.4 million for the nine months ended Sept. 30, 2018.
Vic Grizzle is CEO of Armstrong, which intends to serve current and future customers from the Marshfield office.
ST. LOUIS – Washington University is naming its engineering school after Jim McKelvey Jr., made a “transformative” donation to the school.
The amount of the donation wasn’t disclosed.
McKelvey Jr. is the co-founder of Square, along with Jack Dorsey. McKelvey’s father is former dean of the engineering school. McKelvey Jr. also is founder of LaunchCode and Mira publishing, and co-founder of Six Thirty and Third Degree Glass Factory.
In 2016, McKelvey Jr. donated $15 million to the university to be used toward the construction of McKelvey Hall, in honor of his father. The Department of Computer Science & Engineering will be housed in the building when it is completed in 2020.
McKelvey controls about 2.3 million shares of Square stock, according to the company’s most recent proxy statement filed in April 2018. Those shares were worth about $1.44 billion based on the stock’s closing price Jan. 31.
ST. LOUIS – Emerson (NYSE: EMR) completed its acquisition of Intelligent Platforms from General Electric (NYSE:GE).
Intelligent Platforms, based in Charlottesville, Virginia, has about 650 employees and sales of $210 million for 2017.
The former St. Louis Rams have sold $3.5 million worth of team merchandise in the past 10 days leading up to the Super Bowl — more than was sold in all of 2016, the team’s first year back in Los Angeles.
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