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Valentus Acquires National Paint Industries

Friday, January 8, 2016

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National Paint Industries Inc., a New Jersey-based high-performance coatings manufacturer, has been acquired by Valentus Specialty Chemicals.

Huron Capital Partners LLC., a private equity firm, announced that its specialty coatings platform, Valentus, acquired the North Brunswick coatings company Dec. 28.

Terms of the transaction were not disclosed.

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©iStock.com / shironosov

Valentus says it will be actively looking for other specialty coatings companies to add to its growing platform.

NPI produces coatings used in residential and commercial flooring, industrial protective maintenance, pool, marine and other applications. 

The company has been owned and operated by brothers Mike and Don Schnurr, whose father founded the business in 1959, according to the announcement.

As a result of the acquisition, the Schnurr brothers have become significant shareholders in Valentus and will serve on its board of directors, according to Huron. They will continue to run the day-to-day operations at NPI. 

Growing Platform

Commenting on the deal, the Valentus CEO Ray Chlodney said, “We believe Mike and Don Schnurr have done a great job building the NPI business, and we are excited to have them join the Valentus team. 

“In partnership with Huron Capital, we will be actively looking for other specialty coatings companies that are complementary to NPI as we continue to grow the Valentus platform."

Huron Capital formed Valentus in partnership with coatings industry veterans Chlodney, John Ragazzini, and Bob Taylor to pursue “a buy-and-build initiative in the industrial coatings sector.”

Ragazzini is the Valentus’ chief financial officer and Taylor is a member of the company’s board of directors.  Chlodney was formerly the president and COO of Spraylat Corporation, where Ragazzini also served as CFO.  Taylor was formerly president and CEO of the Decorative Coatings division of AkzoNobel NV.

   

Tagged categories: Acquisitions; Business matters; Business operations; Coatings manufacturers

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