News
Spokane, WA - February 15, 2007 --
United Coatings, a leading manufacturer of protective coatings for the
construction industry, recently announced that is has been acquired by
Quest Specialty Chemicals, Inc., and its equity partner Huron Capital
Partners LLC. According to officials from Quest, the acquisition will
provide United Coatings with more capital resources and allow them to
increase their presence in the construction coatings industry.
The acquisition will not affect United Coatings' business operations
or customer relationships in any way. Operations at United's manufacturing
facilities in Spokane, WA and Phoenix, AZ will continue uninterrupted
and all of its management was retained.
"Quest is a strong company with a solid reputation in the coatings
industry, so this acquisition made perfect sense for United Coatings,"
commented Charlie Van Gelder, Vice President and National Sales Manager
for United. "Building off of our long history in the coatings market, this
new relationship with Quest will allow us to diversify our manufacturing
capabilities, increase revenues and grow our business to exciting new
levels." "Internationally, the farsighted ownership and innovative
spirit provides United Coatings with the means to pursue relationships, markets
and opportunities that previously would have been very difficult", added Bill
Mann, Vice President of International Sales.
Quest is engaged in a major initiative to expand its presence in the
coatings industry and the acquisition of United Coatings is its fourth
purchase of a coatings manufacturer over the past two years. In 2004 Quest
acquired the Raabe Company, LLC, a manufacturer of aerosol paints, followed
by the acquisition in mid 2005 of Foxcolor, an industry competitor. In
July 2006 Quest purchased Matrix System Automotive Finishes, LLC, a
transportation coatings manufacturer specializing in custom color matching
for the automotive repair market.
"United Coatings manufactures a quality product and they have an excellent
reputation within the construction coatings industry," said Quest Specialty
Chemicals Chairman and CEO Fred Quinn. "We are committed to expanding United's
business through additional acquisitions and increased capital support. With
additional resources, we expect United to experience considerable growth
and expansion for years to come."
Since 1919, UNITED COATINGS has been a leading manufacturer of protective
coatings for a wide range of architectural, industrial, roofing and
do-it-yourself applications. United's product line includes systems for
interior & exterior walls, pedestrian & vehicular traffic decks, potable
water storage, waste /water treatment, secondary containment, interior
& exterior pipe lining, and new or existing roofs. For more information
call 1.800.541.4383 or visit www.unitedcoatings.com.
Headquartered in Seabrook, NH, Quest Specialty Chemicals, Inc. is the
operating parent company and is partnered with Huron Capital Partners
of Detroit, Michigan. Quest seeks to acquire enterprises whose core
competencies and drive are based on differentiated and defensible product
technology in combination with a market niche strategy. For more
information call 603.468.1917 or visit www.questsc.com.