United Industrial Corporation history

The product was developed in 1957 by physician Bob Cutter and grew to become one of the leading products in the insect control category, trailing only Off! in sales.

Within a few months of the merger, Fein told Forbes, Topp management went on a buying spree, acquiring a cement aggregate company, a road-building company, an Ohio-based rubber company, and Phoenix-based United States Semiconductor. It also led to the New York Stock Exchange suspending the company’s stock from trading in January 1961 and delisting it that September.

UIC was able to post a $3 million profit in 1962.

In December 1964, the revitalized UIC became the first company in the history of the New York Stock Exchange to have its stock relisted.

UIC announced the purchase of a 28.5 percent stake in the I.E. Kleinert Rubber Company for $2 million in August 1966.

1969: The company is founded by David C. Pratt.

1973: Spray Chem is acquired.

United Industries' new owner was founded by Thomas H. Lee in 1974.

Profits reached $4.7 million on sales of $92 million in 1976.

It had a sales volume of $48 million in 1980.

There were also difficulties at Detroit Stoker, where United Steel-workers staged a strike in October 1981.

In spite of these problems, UIC’s consolidated revenues continued to rise, reaching $283 million in 1983.

Barren’s noted that by 1984, UIC had posted a dozen years of record sales and profits.

In January 1985, UIC announced that it was selling its share in Affiliated Hospital to Smith & Nephew for $58 million.

UIC’s sales reached $315 million in 1988, with earnings of $17 million.

UIC bought Microflite for $16 million in 1991, a purchase that proved to be disastrous.

In early 1994, UIC bought AAFs main fire trainer competitor, New Jersey-based Symtron Systems Inc.

Corporate turnaround specialist P. David Bocksch was hired as CEO in April 1995.

In July 1997, AAI’s engineering unit landed a $35 million Air Force contract to upgrade devices used to train mechanics for the C-17 transport aircraft.

In 1998, United Industries introduced what it called the first new do-it-yourself termite home defense system, an item that generated some controversy.

In November 1999, United Industries installed a new management team headed by Robert L. Caulk, named president and chief executive officer.

As a result of its recent spate of acquisitions, United Industries grew its annual sales to $520 million, from $297 million in 2001.

Later in 2002, United Industries paid $19.5 million in cash to acquire WPC Brands, a Wisconsin company that manufactured Repel, an insect repellent, as well as other outdoor health and safety products.

Lowe's, Home Depot, and Wal-Mart accounted for 71 percent of the company revenues in 2003.