Huron Capital Acquires Paint Over Rust Products' Wood Floor Finishes Business
Huron Capital Partners' portfolio company, Valentus Specialty Chemicals, has acquired the wood floor finishes business of Paint Over Rust Products.
The wood floor finishes business will continue to operate as Absolute Coatings. This transaction represents the third acquisition for Valentus, an ExecFactor initiative launched by Huron Capital and coatings industry veterans, Ray Chlodney, John Ragazzini and Bob Taylor.
“I believe Valentus is the ideal partner to guide Absolute through its next phase of growth,” said Sherman. “Valentus is committed to preserving Absolute’s family of brands and they are investing in resources that will strengthen our distribution, product innovation and ability to serve our customers.”
A family-owned business founded in 1923, Absolute manufactures high performance, environmentally friendly wood floor finishes primarily under the ABSCO, Last-n-Last and TREK-Plus brands. A manufacturer of waterborne coatings, Absolute adds technological expertise to the Valentus platform along with expanded distribution in the Northeast and Mid-Atlantic regions. As part of the transaction, David Sherman, CEO and owner of POR Products, will join Valentus’ board.
“We believe the partnership with Absolute will significantly enhance our growth trajectory,” said Chlodney, CEO of Valentus. “ABSCO, Last-n-Last and TREK-Plus are premium brands with differentiated technologies and excellent growth opportunities and they’re a great complement to our existing portfolio of brands at National Paint Industries (NPI). We are eager to work with David as we seek to build on the legacy that he and his family have established in the marketplace.”
Mark Miller, Vice President at Huron Capital, said, “We believe Absolute is a phenomenal addition to Valentus’ portfolio and we are fortunate to add David to Valentus’ dynamic leadership team. With three acquisitions in eight months, the Valentus buy-and-build model is progressing in line with our expectations. We will continue to work with our leadership team to identify and pursue strategic acquisitions as we seek to grow the Valentus platform.”
For more information, visit absolutecoatings.com.