By Simona Stankovska, staff reporter
Spokane Valley Washington - Quest Specialty Chemicals Inc. has purchased United Coatings of Spokane Valley, a US maker of protective coating for the construction industry, for an undisclosed sum.
The takeover, which happened in February 2007, is Quest's fourth purchase in two years.
According to a statement from Seabrook, New Hampshire-based Quest, the acquisition will provide United Coatings with more capital resources and allow it to increase its presence in the construction industry. In its industrial business, United Coatings supplies a range of high-performance polyurethane and polyurea primers and coatings for abrasion and corrosion resistance and protection against chemical attack
"Quest is a strong company with a solid reputation in the coatings industry, so this acquisition made perfect sense for United Coatings," said Charlie Van Gelder, vice president and national sales manager for United, in the company statement. "This new relationship with Quest will allow us to diversify our manufacturing capabilities, increase revenues and grow our business to exciting new levels," he added.
A spokesperson for United Coatings said the takeover would not affect the company's business operations or customer relationships in any way. Operations at United's facilities in Spokane Valley and Phoenix, Arizona, will continue as normal, the spokesperson added.
As well as industrial materials, United Coatings is a global supplier of coatings for architectural and roofing uses, as well as consumer waterproofing products.
Quest is backed by Huron Capital Partners of Detroit, Michigan. "We're on a quest to discover the world's best companies - those who provide surface protection for, or the bonding of, ridged and flexible substrates through formulated chemistry," states a company brochure.
Recent coatings purchases by Quest include aerosol paint maker Raabe Co llc in 2004, competitor Foxcolor in 2005, and Matrix system Automotive Finishes llc in 2006. Matrix makes transport coatings specialising in colour retrieval and primers, including two-component urethanes.
PIC: United Coatings supplied tough polyurea elastomers to coat the concrete track for a new rail line between Beijing and Teijin in China."
