Corrosion Products & Equipment, Inc. acquires company in Canada, Flowstar Industrial Inc.
Rochester, New York – June 1st, 2018 – CPE announced today that they have acquired Flowstar Industrial, Inc. a leading distribution company located in Truro, Nova Scotia. Flowstar, who is known for their quality products and exceptional service, is very similar in scope to CPE. The similarities between both companies will allow them to blend their products, people and culture quickly and effectively to stimulate growth beyond current levels. The management team and employees of Flowstar will be retained to ensure continuity and to drive the company’s performance objectives.
This news comes after CPE announced in January that they have a new CEO who will focus on strategic initiatives and growth strategies. “We will now have the ability to drive our value proposition to a much broader customer base, ultimately resulting in increased customer satisfaction” said CEO, Doug Wade. With this acquisition, CPE will work to expand their existing vendor relationships that they have in the US into Canada. This will also allow them to expand their footprint with their current US customers that have operations in Eastern Canada. “CPE is adding a great company to our portfolio as we expand our platform into eastern Canada” stated CPE President, Peter Tortorella. “Flowstar’s sterling reputation gives CPE a significant position in a market place full of opportunity.”
Flowstar has been in the business for nearly 20 years and will be a great compliment to CPE’s already successful business moving forward. Wayne Caines, President of Flowstar shares in CPE’s excitement “On behalf of the Flowstar Industrial Team we are pleased to be joining CPE and are looking forward to the opportunities that will present themselves for years to come”.