Funds advised by SK Capital Partners LP, a private investment firm focused on the specialty materials, chemicals and pharmaceuticals sectors, has purchased 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 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 is also pleased to announce that Robert Jamieson will be appointed as president and CEO of Canlak Coatings.
“Robert’s extensive background managing chemicals businesses makes him an ideal candidate for integrating and growing Canlak Coatings,” added Toukan.