Spencer Coatings Acquires Protega Paints
DURHAM CITY, England - Industrial coatings manufacturer Spencer Coatings Ltd. has acquired Protega Paints, West Bromwich, UK.
With its position in the industrial coatings market, Protega Paints has built a strong presence in the agricultural, construction and earthmoving (ACE), general industrial, and protective coatings markets, key areas for Spencer Coatings. The company also has a network of distributors and owns the well-known Corroless brand.
Spencer Coatings is a member of energy sector business development organization, NOF Energy. Spencer Coatings will continue to operate the West Bromwich factory alongside its Huthwaite facility, providing much needed production capacity and flexibility for future growth.
Sean Cullen and Nigel Smith will both retain a shareholding in the acquired business and remain as Executive Directors reporting to Phil Buck, Group Managing Director. Buck, Graham Stronarch and James Stokes will join the board of Protega Paints. Mike Smith, previously CEO and majority shareholder, will leave the company.
In addition to its presence in the UK, Spencer Coatings has joint ventures in China, Nigeria and a wholly owned company in Singapore.