Eastman Chemical Co. (NYSE: EMN) has acquired private equity-backed Commonwealth Laminating & Coating Inc. 

Commonwealth, headquartered in Martinsville, Virginia, manufactures, markets and distributes solar control window films that are designed for energy conservation, safety, security and aesthetics. The window films are used in the residential, commercial and automotive industries.

Kingsport, Tennessee-based Eastman Chemical manufactures chemicals, fibers and plastics. The company has made other acquisitions, including Taminco Corp., which makes chemicals for water treatment, for $1.8 billion in September

Commonwealth was backed by New York PE firm Fenway Partners and Transportation Resource Partners.

Fenway focuses on investing in branded consumer products and specialty distribution companies. The firm focuses on investments in businesses that are between $100 million and $600 million in enterprise value. The firm's investments include BRG Sports, Balfour and Preferred Freezer Services. Transportation Resource, headquartered in Bloomfield Hills, Michigan, invests in transportation and related businesses. The firm’s former investments include Penske Automotive Group (NYSE: PAG) and Universal Technical Institute (NYSE: UTI).

Harris Williams & Co. advised Commonwealth on the deal.  

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