Investors Buy Wheelabrator from USFilter

Buyer is known as International Surface Preparation Corp.

International Surface Preparation Corp. has agreed to buy United States Filter Corp.'s USFilter Surface Preparation Group, a top supplier of surface-preparation equipment, parts, and consumables. ISPC is privately owned by investors based in Colorado, Texas, and New York, led by Bard and Company Inc. of Evergreen, Colorado.

ISPC's CEO Richard Bard said "We have been working with USFilter management toward this acquisition with great anticipation for several months. As a supplier of capital equipment and after-market services to the automotive, aerospace, and foundry industries, our company will be well positioned to take advantage of the improving economic environment in North America, as well as in Europe and Asia." Bard's previous operating ventures include FoxMeyer Corp., Coast-to-Coast Hardware, ComputerLand Corp., and Optical Security Group. And, Bard is the current chairman of the Federal Reserve Bank of Kansas City.

Bard added, "The Surface Preparation Group has roots reaching back some 100 years with leading brand names in the global surface-preparation industry, including Wheelabrator and Blastrac. As an independent company, our primary focus will be enhancing technology development and service to our customers. In addition, ISPC will be making a significant investment in capital and human resources to fuel future growth."

Robert E. Joyce, a former executive vice president of USFilter and now the Surface Preparation Group's President and COO will be joining ISPC as its new President and chief operating officer. "I am very excited by the opportunity for new growth and development which ISPC presents and look forward to working with the new owners in delivering more value to our customers" Joyce said. "We have the industry's greatest collection of brands, products and talent. The sale to ISPC removes any uncertainty about its future." From: To: Subject: Of possible interest... Date: Tuesday, August 26, 2003 10:49 AM This is not hot news -- it actually emerged about three weeks ago. But, a news released arrived by mail to FORGING yesterday, so I guess you might like to have the Web news item I wrote for FMT.com . USFilter Surface Prep is (apparently) the holding company for Wheelabrator's shot-blast systems organization. reb ---- Investors Buy USFilter's Surface-Prep Subsidiary Wheelabrator, Balstrac lines get new parent International Surface Preparation Corp. has agreed to buy United States Filter Corp.'s USFilter Surface Preparation Group, a top supplier of surface-preparation equipment, parts, and consumables. ISPC is privately owned by investors based in Colorado, Texas, and New York, led by Bard & Company Inc. of Evergreen, Colorado.

ISPC's CEO Richard Bard said "We have been working with USFilter management toward this acquisition with great anticipation for several months. As a supplier of capital equipment and after-market services to the automotive, aerospace, and foundry industries, our company will be well positioned to take advantage of the improving economic environment in North America, as well as in Europe and Asia." Bard's previous operating ventures include FoxMeyer Corp., Coast-to-Coast Hardware, ComputerLand Corp., and Optical Security Group. And, Bard is the current chairman of the Federal Reserve Bank of Kansas City.

Bard added, "The Surface Preparation Group has roots reaching back some 100 years with leading brand names in the global surface-preparation industry, including Wheelabrator and Blastrac. As an independent company, our primary focus will be enhancing technology development and service to our customers. In addition, ISPC will be making a significant investment in capital and human resources to fuel future growth."

Robert E. Joyce, a former executive vice president of USFilter and now the Surface Preparation Group's President and COO will be joining ISPC as its new President and chief operating officer. "I am very excited by the opportunity for new growth and development which ISPC presents and look forward to working with the new owners in delivering more value to our customers" Joyce said. "We have the industry's greatest collection of brands, products and talent. The sale to ISPC removes any uncertainty."

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