A New York-based investment firm has acquired a North Brunswick-based specialty chemicals company and plans to merge it with another acquisition to form a North American wood coatings company, it announced this week.
Funds advised by SK Capital Partners LP, which focuses on the specialty materials, chemicals and pharmaceutical sectors, have purchased Canadian coatings company Canlak Inc. as well as Valentus Specialty Chemicals, the North Brunswick business.
The two companies will be merged into a company that will be named Canlak Coatings and based in North Brunswick. Robert Jamieson, most recently an executive with VersaFlex, will be named CEO and president of the new company, while Normand Guindon, Canlak’s CEO, will be executive chairman of the board.
“The combined company will offer a comprehensive portfolio of wood coatings products to serve the sports, commercial and residential flooring, cabinet and furniture manufacturing sectors,” Mario Toukan, an SK managing director, said in a prepared statement. “We see tremendous opportunity to build upon a solid portfolio of brands, including Canlak Poloplaz, ABSCO and Sampson Coatings, to provide value and solutions to the company’s North American customer base.”
Financial terms of the transactions were not disclosed.
The law firm of Cole Schotz P.C. represented Pentek in the deal. The team was led by Roger Iorio and included William Stroever, Emily Lamond, Joseph Armenti and Isabelle Jacobs.