Witex USA Acquired by Investment Group

Atlanta, GA, Jun. 7--Witex USA has been acquired by an investment group including Bill Hamlin, KCA Capital, Chatham Capital and senior management. The Group has purchased 100% of the outstanding shares of Witex USA, Inc. from Witex AG, Germany, and has secured an increased line of credit from the Southeastern office of LaSalle Business Credit, LLC. “We are very excited about the future of Witex USA. The new capital structure combined with a strong management team will ensure ongoing growth and a profitable future for Witex USA for a very long time.” stated Bill Hamlin, the company’s new chairman. Hamlin has many years of experience in merchandising and the home improvement business. Witex USA is the exclusive representative of all Witex manufactured products in North America. “It was important for Witex USA to establish its financial independence while maintaining a strong relationship with the manufacturing expertise of Witex AG in Germany. This is truly a win-win transaction and trengthens the financial profiles and independence of all parties,” said Hartwig Siemerling, President and CEO of Witex USA. Hermann Pooth, President of Sales, Witex AG, Germany is very enthusiastic about the cooperation between the two companies: “We will strongly support Witex USA to continue our growth strategy in North America.” The management team of Hartwig Siemerling, Dan Thomas, CFO, and Matt Thornton, Vice President of Sales, will continue to lead the company. “This transaction opens up new doors for us to expand our product lines, allocate new funds to marketing, and increase our inventory,” stated Matt Thornton. Witex USA operations will remain in Kennesaw, GA and Orlando, FL.

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