VISTA, CA--(Marketwired - August 26, 2016) - McCain Inc. announced today that it has signed a definitive agreement to sell 100% of its shares to Austrian-based traffic technology group, SWARCO. The deal to acquire the California-based company at an undisclosed amount is scheduled to close on August 31, 2016. McCain -- a long-time industry leader in the U.S. market for urban advanced traffic control equipment including traffic controllers, cabinets, signals, signs, and software -- will retain its distinct brand and culture.
McCain founder and CEO Jeffrey L. McCain is pleased with the prospect the deal presents for McCain'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 McCain's 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 founder and owner Manfred Swarovski is also very excited about the natural fit between the two corporations: "McCain is one of the best run companies in the traffic industry. 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 said.
An international leader in products and solutions for road safety and intelligent traffic management, SWARCO intends to strengthen its position in the U.S. Intelligent Transportation Systems (ITS) market, where the company is predominantly known for its parking guidance and dynamic message signs, through the acquisition of McCain Inc.
"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," explains SWARCO's executive for ITS, Michael Schuch.
Jeffrey and Beth McCain will retain full ownership of McCain Manufacturing -- its employees, operations, products and services, including contract manufacturing services and all non-traffic McCain-branded products.
About McCain Inc.
McCain Inc. develops products used by millions of people around the world each day. A manufacturing powerhouse since 1987, the company's brand portfolio includes advanced traffic control equipment and integrated transportation systems to create safer, more mobile, and more livable communities. Team McCain is comprised of more than 500 employees at operations in the United States and Mexico.
For more information, visit the company's website at www.mccain-inc.com.
About the SWARCO Group
SWARCO -- the traffic technology corporation of Austrian entrepreneur Manfred Swarovski -- is an international group providing the complete range of products, systems, services and solutions for road safety and intelligent traffic management. With almost five decades of experience in the industry, SWARCO supports the growing mobility needs of society with turnkey systems and solutions in road marking, urban and interurban traffic control, parking, public transport, detection, infomobility and energy-efficient, LED-based signaling and lighting technology. Cooperative systems, V2I communication, e-mobility, and integrated software solutions for the Smart City are latest, future-oriented fields in the group's portfolio.