Koch Industries Will Acquire Guardian Industries

Koch Industries Inc. has agreed to buy the 56% of Auburn Hills, Mich.-based Guardian Industries Corp. it doesn’t already own. Both companies are privately held and revealed no details about the acquisition.

Guardian supplies glass and plastic coatings to the auto industry. Koch, which got its start in oil refining, is a Wichita, Kan.-based conglomerate with interests in lumber, oil pipelines, chemicals, automotive electronics and cattle.

With estimated annual revenue greater than $115 billion, Koch has been ranked as the second-largest privately held company, after agricultural and food giant Cargill Inc.