Illinois Tool Works Inc. (ITW) has announced the acquisition of Accessories Marketing, Inc. (AMI), creator and manufacturer of the Slime brand of tire sealant products, through its Permatex business unit.
AMI’s, whose Slime branded products can be found in more than 60,000 retail outlets in over 36 countries, employs approximately 60 people and has a global headquarters in Grover Beach, Calif.
The purchase was announced by David C. Parry, executive vice president of ITW, who indicated that AMI would become part of ITW’s Performance Polymers and Fluids Group and continue to operate as a separate entity. Parry added “Accessories Marketing, Inc. is an excellent acquisition for ITW; this business fits nicely with our growing automotive aftermarket group. The Slime brand is a pioneer in the liquid tire sealant category, and their innovative products have a high level of acceptance in a wide range of markets.”
According to Andy Robinson, general manager for Permatex, “We recognized the strong brand equity that Slime carries and we’re excited to know that the brand is now part of the ITW family.”
Slime was founded in 1993 by the Cegelski family and acquired by an affiliate of Friend Skoler & Co. in 2006. Rodney Cegelski, executive VP of marketing and a key part of the Slime management team notes, “From the beginning my brothers Jim, Steve and I felt it was of paramount importance to build a business with a strong moral and ethical foundation. We were early to focus on eco friendly Slime formulations and tire care accessories that are environmentally safe and non-toxic.
“It is gratifying to know that ITW shares our vision and values our innovative and unique approach to the market. With their support, we will be in an excellent position to further expand Slime brand technology and product offerings.”