Funds advised by SK Capital Partners LP, a private investment firm focused on the specialty materials, chemicals and pharmaceuticals sectors, today announced the purchase of the Canadian coatings company Canlak Inc. and US-based Valentus Specialty Chemicals.
SK Capital plans to merge the two businesses to form a North American wood coatings company called Canlak Coatings, which will be headquartered in North Brunswick, New Jersey.
“The combined company will offer a comprehensive portfolio of wood coatings products to serve the sports, commercial and residential flooring, cabinet and furniture manufacturing sectors,” said Mario Toukan, a Managing Director of SK Capital. “We see tremendous opportunity to build upon a solid portfolio of brands, including Canlak, Poloplaz, ABSCO and Sampson Coatings, to provide value and solutions to the Company’s North American customer base.”
The company shared that 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 alike. Normand Guindon, the current CEO of Canlak Inc., will remain actively involved with the business and will serve as Executive Chairman of the Board of the company.
“The new company will focus on offering the highest quality coatings that meet the market’s ever-more stringent VOC requirements,” added Randy Dearth, Senior Director of SK Capital. “Our portfolio will include a broad range of technologies, including traditional lacquers and varnishes, waterborne coatings, UV-cured coating systems and high-performance polyurethanes. We will support and grow our presence in the market through an expertly trained sales and technical staff supported by a state-of-the-art wood coatings laboratory.”
SK Capital also announced that Robert Jamieson will be appointed as President and CEO of Canlak Coatings. Jamieson brings more than 30 years of experience in the chemicals industry to his new role, most recently serving as an executive of VersaFlex, a provider of specialty coatings, linings and foams. Robert’s experience also includes roles at Quadrant Chemical, Quadrant Urethane Technologies and Carlisle Construction Materials.
“Robert’s extensive background managing chemicals businesses makes him an ideal candidate for integrating and growing Canlak Coatings,” added Toukan.