Two of the best-known family-owned names in the traffic technology industry have signed a definitive agreement that will see the Austrian Swarco group acquire the USA’s McCain Inc.
California-based McCain has agreed to sell 100% of its shares to Swarco for an undisclosed amount, with the deal scheduled to close on August 31, 2016.
McCain is one of the leading players in the US urban intelligent transportation systems (ITS) market, providing traffic controllers, cabinets, signals, signs and software; the Austrian Swarco group has been a well-known player in the US glass bead and road marking materials sector for over four decades, with production sites in Tennessee, Texas and Colorado.
With the acquisition of McCain, Swarco intends to strengthen its position in the USA’s ITS market, where the company is predominantly known for its parking guidance and dynamic signage products. McCain will retain its distinct brand and culture. Jeffrey and Beth McCain will retain full ownership of the family’s other business, McCain Manufacturing, its employees, operations, products and services, including contract manufacturing services and all non-traffic McCain-branded products.
McCain founder and CEO Jeffrey L McCain said of the prospect the deal presents for the company’s brand legacy and team members, “As a global leader in road safety and traffic management solutions with similar values and a family-owned culture akin to McCain’s, Swarco is the perfect choice to continue our tradition of outstanding customer service, industry-leading technology solutions, and world-class manufacturing. Being part of the Swarco Group will offer McCain team members, customers and distribution partners continuity, as well as new opportunities for shared growth and success.”
Swarco’s founder and owner Manfred Swarovski is also very excited about the natural fit between the two corporations: “I have great admiration for Mr McCain’s achievements over the past thirty years. Swarco and McCain have complementary, rather than competing, products and solutions, and strong synergies in terms of business ethics, culture, and corporate dynamics,” he noted.
Swarco’s executive for ITS Michael Schuch explained, “We plan to build upon the McCain brand and envision broadening the company’s diverse product portfolio through the addition of many of our ITS products and solutions, including the world-renowned, optically-brilliant dynamic message sign technology.”