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Spencer Coatings Flexes New Dominance

Wednesday, February 13, 2013

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Spencer Coatings Ltd. has become the largest independent and British-owned industrial coatings manufacturer in the UK with its recent acquisition of Stokes Paints, the company says.

The fourth-generation Aberdeen, Scotland-based coatings maker called the recent transaction "by far the largest" on its list of acquisitions over the last 12 years in a steady expansion of its  industrial coatings footprint in Europe.

Spencer Coatings manufactures a range of products for the industrial, heavy-duty, architectural, and decorative markets. 

200 Years of Experience

Stokes, a division of R.J. Stokes & Co. Ltd., produces industrial and high-performance coatings, decorative and maintenance paints, as well as nd niche paint products for other manufacturers.

Spencer Coatings

Spencer Coatings' managing director Phil Buck (right) said appointing James Stokes, joint managing director of R.J. Stokes, as the operations director will demonstrate "commitment to the future of the new company."

Stokes Paints and Spencer Coatings have more than 200 years of industrial coatings manufacturing experience between them, according to Spencer Coatings.

"This acquisition brings together two companies that complement each other in technologies, market sectors and geographical spread," said Phil Buck, Spencer Coatings managing director.

The new company will be positioned in the oil and gas, infrastructure, pipeline, and industrial OEM sectors.

After the acquisition, the new company was expected to have a turnover of over £16 million p.a. 

James Stokes, joint managing director of R.J. Stokes Limited, will join Spencer Coatings Ltd. as the operations director.

"We are delighted that James is joining us," said Buck. "This demonstrates to Stokes staff and customers his commitment to the future of the new company and provides continuity which is so important for the success of the new company."

According to the R.J. Stokes website, the company's directors include three members of the fourth generation of the Stokes family. The company traces its roots back four generations to the 1800s.

New Distribution Center

After announcing the acquisition, Spencer Coatings also announced plans  to invest in a new distribution center in Aberdeen.

R.J. Stokes Co.

The combined company will primarily produce coatings at Stokes Paints' factory in Huthwaite in Derbyshire. Spencer Coatings also plans to invest in a new distribution center and technical center in Aberdeen.

Primary production of the combined companies will be based at the Stokes Paints factory at Huthwaite in Derbyshire. Spencer Coatings' head office functions, sales, and technical service department for Scotland wlll remain in Aberdeen. A new technical center will be established to develop new products for companies throughout Scotland.

"We are investing in the very latest tinting technology, which will enable us to provide a much higher level of service than we were able to before," Buck said.

Spencer Coatings recently obtained approval from Shell Global for its Transocean range of coating systems for protecting North Sea assets, the company said.

Acquisitions, International Reach

Operating from its Aberdeen headquarters, the company houses a manufacturing plant, research and development department, quality control laboratory, trade counter and decor center.

The Aberdeen operation is also supported by depot facilities in Belfast and Nottingham, where Spencer Coatings operates full stocking, sales and technical service facilities.

The company said it had also recently strengthened its international scope with a joint venture in the People's Republic of China. The manufacturing plant, Taishan Shandong Spencer Coatings Limited, manufactures and distributes the company's products throughout China.

Spencer Coatings' past acquisitions include:

  • Manders Coatings and Inks' industrial paints and distribution business (2006);
  • Meynell Paints (2006) with a focus on security coating systems for the construction industry;
  • Eagle Industrial Paints Limited (2003) with a range of primers, topcoats, lacquers, and floor paint for the agricultural machinery and commercial vehicle markets;
  • Pearl Paints Limited (2003) with a line of epoxy and other coatings, including special products for potable water-approved epoxy linings for pipe and tank work;
  • Wasser High Tech Coatings (2002) as a sole UK distribution;
  • Metrotect Ltd. Liquid Coatings Division (2002) with a line of polyurethane and epoxy coatings primarily used for buried gas, oil and water pipelines; and
  • Newtown Industrial Paints Limited (2001) with a full range of industrial paints from solventborne materials to modern coatings designed to meet strict environmental legislation.

   

Tagged categories: Acquisitions; Architectural coatings; Finance; Infrastructure; Oil and Gas; Pipeline

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