Valentus Acquires Floor Finishes Firm
Valentus Specialty Chemicals Inc., a holding company owned by Huron Capital, announced Thursday (August 11) that it completed its acquisition of Absolute Coatings Inc., the wood floor finishes business of Paint-Over-Rust Products.
New Rochelle, NY-based Absolute, in business since 1923, produces wood floor coatings under the brands ABSCO, Last-n-Last and TREK-Plus. Paint-Over-Rust Products formerly did business as Absolute Coatings, but the Absolute name now only applies to the wood floor finishes business acquired by Valentus.
Terms of the deal were not disclosed.
The acquisition adds Absolute to Valentus’ holdings, which already included National Paint Industries and Precision Technology Floor Finishes. Valentus is part of Huron Capital, a private equity firm whose portfolio also includes Quest Specialty Chemicals, Modular Building Products Group and dozens of other industrial, consumer and business-service companies.
In addition to expertise, Valentus notes that the Absolute acquisition will add distribution in the Northeast and Mid-Atlantic to its holidings.
CEO Joins Valentus Board
David Sherman, CEO of Paint-Over-Rust, will join the board of directors of Valentus as part of the acquisition.
“I believe Valentus is the ideal partner to guide Absolute through its next phase of growth,” Sherman said. “Valentus is committed to preserving Absolute’s family of brands, and they are investing in resources that will strengthen our distribution, product innovation and ability to serve our customers.”
“We believe Absolute is a phenomenal addition to Valentus’ portfolio, and we are fortunate to add David to Valentus’ dynamic leadership team,” said Mark Miller, Vice President at Huron Capital. “We will continue to work with our leadership team to identify and pursue strategic acquisitions as we seek to grow the Valentus platform.”