Private equity firm Arsenal Capital Partners (New York, NY, USA) announced that its global industrial coatings platform, Seal for Life Industries (Stadskanaal, The Netherlands), has acquired two privately owned industrial coatings companies: Mascoat Ltd. (Houston, TX, USA) and Verdia, Inc. (Conroe, TX, USA).
Mascoat has been a leading manufacturer of thermal insulation coatings, anti-condensation, and sound dampening coatings since 1995. The company’s coatings serve a wide variety of industries, including industrial, marine, commercial, and automotive. In addition, Mascoat has helped to develop new ways to solve corrosion under insulation with its insulation coatings and pioneered the use of its sound-dampening and anti-condensation coatings for the commercial and yacht sectors.
“We are delighted to become part of the Seal For Life platform,” says George More, president, chief executive officer (CEO), and founder of Mascoat. “The combination of Mascoat‘s industry-leading insulation and protective coatings with Seal For Life’s extensive coatings portfolio and global footprint will allow us to reach additional markets and customers, and will provide customers even more high-performance solutions to protect their critical infrastructure assets.”
Verdi is a leading polymer flooring manufacturer in the United States with deep expertise in polyurethane concrete flooring systems and offers a complete line of epoxies, polyurethane, and polyaspartics formulations. Verdia was recognized by Inc. Magazine as one of the Fastest Growing Companies in America for 2019. In addition, the company was awarded USDA certification for its bio-based polyurethane floor coating produced from renewable and sustainable polymer sources.
“Joining the Seal For Life platform provides Verdia with the critical mass and market access it needs to continue its remarkable growth trajectory,” says Tony Crowell, president, CEO, and founder of Verdia. “Our customers consider polymeric floor coatings as critical technology for protecting their high-value infrastructure assets, and we look forward to expanding applications of our highly sustainable products around the world."
“We are very pleased to welcome the Mascoat and Verdia teams to the Seal For Life family, and look forward to working with them to accomplish our vision of being the leading global provider of protective coating and sealing solutions for infrastructure markets,” says Jeff Oravitz, CEO of Seal For Life. “The incorporation of these highly specialized industrial coatings companies into the Seal For Life platform increases our global scale and the ability to meet the needs of our many global customers.”
“Mascoat and Verdia bring exceptional coatings technologies to the Seal for Life platform and have an excellent market reputation for providing the highest level of performance and quality to meet demanding customer requirements,” says Aaron Wolfe, an investment partner of Arsenal. “These businesses provide highly complementary technologies and build further scale for Seal For Life. We look forward to supporting these teams and investing in inorganic growth and completing additional acquisitions to continue to build Seal For Life’s position in the broader protective coatings and sealing solutions space for infrastructure applications.”
Source: Seal for Life Industries, www.sealforlife.com.