The American subsidiary of German manufacturing conglomerate The Wagner Group recently purchased paint spray maker Titan Tool. Terms of the asset sale of the Oakland, N.J.-based company were not disclosed.
Sean James, president and CEO of Minneapolis-based Wagner U.S. Holdings, said that Titan and Wagner's SprayTech contractor division will operate separately. Wagner Holdings said its distribution channels will now include Wagner Powered Products, focusing on the hardware/home center markets; Titan and SprayTech, exclusively serving the paint store and industrial distribution channels; and Wagner Systems, which concentrates on industrial powder-coating products sold to manufacturing facilities.
The Titan acquisition is Wagner's seventh in the past 10 years, according to the company, and is in line with its strategy to increase market share in all coatings applications.