Canlak Coatings Inc., a portfolio company of SK Capital Partners and a manufacturer of wood coating systems for flooring, cabinet, furniture and wood-focused architectural applications, has bought Ceram-Traz Corp. (doing business as Ceramic Industrial Coatings).
Ceramic Industrial Coatings is a manufacturer of wood coating systems and related CASE (coatings, adhesives, sealants and elastomers) products. The company supplies customized water and solvent-based wood coatings. The deal aligns with Canlak Coatings’ vision of creating a wood coating systems business while driving its growth in the North American OEM wood coatings market. The combined company will offer a portfolio of wood coating products and provides Ceramic Industrial Coatings’ customers with access to Canlak Coatings’ ultraviolet and water-based coating technologies.
“The acquisition greatly enhances Canlak Coatings’ focus in U.S. OEM coatings, an area of significant investment and growth for the Company,” comments Jim Coccagno, president and CEO of Canlak Coatings.
Klehr Harrison LLP acted as legal counsel to Canlak Coatings. Northborne Partners LLC acted as financial advisor to Ceramic Industrial Coatings.