SK Capital Buys Canlak and Valentus Specialty Chemicals
Funds advised by New York investment group SK Capital Partners has bought Canadian coatings company Canlak and US-based Valentus Specialty Chemicals for an undisclosed sum.
SK Capital plans to merge the two businesses to form a premier North American wood coatings company called Canlak Coatings, which will be headquartered in North Brunswick, New Jersey, currently the head office of Valentus.
“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.”
“Our portfolio will include a broad range of technologies, including traditional lacquers and varnishes, waterborne coatings, UV-cured coating systems and high-performance polyurethanes,” added SK Capital senior director Randy Dearth.
Canlak’s CEO Normand Guindon will remain actively involved with the business and serve as executive chairman of the newly merged company’s board. SK Capital has appointed VersaFlex executive Robert Jamieson as president and CEO of Canlak Coatings.
Author: Elaine Burridge, Freelance Journalist
