Exchange Income completed the acquisition of Spartan Mat and Spartan Composites for $120m.

Exchange Income, a diversified, acquisition-oriented company focused on opportunities in the aerospace & aviation and manufacturing segments, completed the acquisition of Spartan Mat and Spartan Composites, an industrial composite access mat creators and manufacturers, for $120m. “EIC has spent the last two years researching and understanding the US ground protection landscape and assessed a number of acquisitions in the US. It became evident to our team that composite alternatives were growing in importance and a strong composite strategy was crucial for future success. Spartan was the perfect match to execute on our Environmental Access Solutions business line growth strategy for the US market. Spartan is one of only three industrial composite mat manufacturers in the US, providing us with direct exposure to market tailwinds in the coming years. Spartan’s team has done an impressive job scaling the business since its inception and we look forward to having them join the EIC family,” Mike Pyle, EIC CEO.