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Funds advised by SK Capital Partners LP, a private investment firm focused on the specialty materials, chemicals and pharmaceutical industries, announced the acquisition of Canadian coatings company Canlak Inc and U.
S.
-based Valentus Specialty Chemicals
.
SK Capital plans to combine the two businesses to form Canlak Coatings, North America's premier wood paint company, which will be headquartered in North Brunswick, New Jersey
.
SK Capital, Canlak Inc and Valentus Specialty Chemicals are working together to execute the transaction, which will result in a seamless transition for customers and suppliers
.
Normand Guindon, the current CEO of Canlak Inc, will remain actively involved in the business and will serve as the company's executive chairman of the board
.
SK Capital also announced that Robert Jamieson will be named President and CEO of Canlak Coatings
.
Jamieson brings more than 30 years of experience to his new role in the chemical industry, most recently as an executive at VersaFlex, a leading supplier of specialty coatings, liners and foams
.
Jamieson's work experience also includes Quadrant Chemical Company, Quadrant Polyurethane Technology Company and Carlisle Building Materials Company
.
Mario Toukan, managing director of SK Capital, said: "The combined company will offer a comprehensive portfolio of wood coatings serving the sports, commercial and residential flooring, cabinetry and furniture manufacturing sectors
.
We see tremendous opportunity to build on a solid brand Portfolio-based, including Canlak, Poloplaz, ABSCO and Sampson Coatings, provides value and solutions to the company's North American customer base
.
"
"The new company will focus on delivering the highest quality coatings to meet the market's increasingly stringent VOC requirements," added Randy Dearth, senior director at SK Capital, "Our product portfolio will include a broad range of technologies, including traditional paints and varnishes, water-based coatings, UV-curable coating systems and high-performance polyurethanes
.
We also have a state-of-the-art wood coatings laboratory
.
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