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New Player Enters Protective Coatings Field

Wednesday, August 24, 2016

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Financial investment business Signet Enterprises has announced the launch of a new venture in the field of polymer technology for the protective and structural coatings industries.

Creative Polymer Solutions (CPS) will begin operating out of Irondale, AL, as a manufacturer of protective and structural coatings for municipal, industrial and commercial sectors, the Akron, OH-based company announced Thursday (Aug. 18).

CPS falls under the Signet Ventures arm of Signet Enterprises; Signet Ventures is a diversified holding company focused on the formulation of growth strategies for manufacturing and service companies.

CPS will co-locate in a polymer blending facility with another Signet Ventures holding, Sprayroq, the group said. Sprayroq is a developer and manufacturer of in spray applied resin technology for structural rehabilitation and corrosion protection of water, wastewater and other industrial infrastructure assets.

gas plant piping
© iStock.com / Alfredo_Allais

Signet Enterprise's new protective and structural coatings venture will provide blending capabilities for many sectors affected by corrosion, such as the gas, electric, communications, and boat and maritime industries.

“We are extremely excited about the formation of CPS, and its ability to support Sprayroq and other independent coating firms and manufacturing facilities located throughout the southeast,” says Anthony Manna, Signet founder and chairman.

Focus on Corrosion Prevention

Corrosion is expected to cost the U.S. economy more than $1.1 trillion in 2016, Signet notes, citing a study conducted by G2MT laboratories.

CPS will specialize in the development and blending of polyurethane and polyurea products intended for corrosion prevention and the rehabilitation of heavily corroded surfaces, predominantly concrete and various metals, the organization explains.

CPS, which is said to have already secured several clients in Asian markets, provides blending capabilities for many segments affected by corrosion. These include cured-in-place pipe (CIPP) for the gas, electric and communications industries, as well as for boat and maritime applications.

Infrastructure Applications

CPS President Jerry Gordon says part of the reason for the launch of the new company was the major growth potential from the worldwide need for infrastructure service applications.

“We saw an opportunity to spread our wings and grow as a company, and to offer unique solutions to customers regionally,” Gordon notes. “With the foundation of CPS, we can better create new and unique solutions to better serve our customers in a variety of markets.”

Manna echoes those thoughts, stating, “It’s well known that the economy suffers from the effects of infrastructure corrosion, so we anticipate that with the advent of CPS, we will be able to increase our reach in becoming part of the total solution to that significant problem.”

According to Gordon, the addition of a cutting-edge laboratory will enable its technical staff to work directly with customers to enhance quality, while also increasing capacity and the capability to service a growing need in the marketplace.

“It starts with a customer-first philosophy,” Gordon explains. “We work with our clients collaboratively throughout the process, from development to design to usage. From that collaboration comes innovation, trust, quality control and operational reliability.”

15-Years Foundation

With decades of experience in acquiring and forming new businesses, Signet Enterprises notes that its experience in the infrastructure service and manufacturing markets dates back 15 years, with the acquisition of Sprayroq.

“We originally acquired Sprayroq in 2001, largely due to the opportunity to expand its product offerings and the markets they serve,” says Mark Corr, Signet’s president and COO.

Since that time, Signet has successfully expanded its North American footprint and entered several international markets with its coating products, he says, adding that the time is right for it to improve its control over the manufacturing process.

“As a result of forming CPS and adding engineering, chemistry and manufacturing resources, we will be in a better position to serve our customers’ needs by creating formulations that encounter unique environmental conditions,” he explains.

“We take pride in supporting innovation and new product development throughout the organization. The formation of CPS will greatly enhance our ability to follow through on this strategy.”

According to Manna, one of Signet’s principal business philosophies is to promote creativity within each portfolio company, and to encourage a total solution approach to customer satisfaction.  

As an affiliated entity of Signet Enterprises, CPS will rely on Signet’s experience in developing vertical integration opportunities.

   

Tagged categories: Asia Pacific; Coating Business; Coating Materials; Coatings; Coatings manufacturers; concrete; Corrosion protection; Cured-in-place pipe (CIPP); EMEA (Europe, Middle East and Africa); Expansion; Infrastructure; Latin America; Metal coatings; North America; Oil and Gas; Protective Coatings

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