Private equity firm Delos Capital LLC, in its first deal, is buying California Products Corp. for an undisclosed amount.
California Products is an Andover, Mass.-based manufacturer or water-based specialty chemical coatings used for consumer and industrial uses, such as tennis court and track coatings.
Boston-based Delos Capital is a private equity firm that was founded in 2013 and is headquartered in New York. The company partnered with Satori Capital LLC, a Dallas private equity firm, and other investors for the deal.
Other recent coatings deals include Argosy Private Equity and Sidreal Capital Group LLC’s acquisition of U.C. Coatings Corp., and Oman Oil Co.’s purchase of Oxea, which makes chemicals for coatings.