Vortex Coatings Inc. (PurEpoxy), a North American concrete coatings manufacturer, and Groupe Distribution Inc. (Ice Epoxy), a casting resins provider, have both been acquired by A.P. Nonweiler, Co. (APN), a manufacturer of specialty coatings and a portfolio company of Renovo Capital, LLC (Renovo). Grace Matthews advised PurEpoxy and Ice Epoxy on the transaction.
PurEpoxy formulates and manufactures a focused product line of protective and decorative concrete coatings systems for the residential and commercial markets, selling primarily through a network of distribution partners globally. Ice Epoxy produces a suite of DIY resins for hobby and craft projects.
Erik Gravel, CEO of PurEpoxy, commented, “APN is the perfect partner to enhance our mission to provide the best coatings systems at competitive prices to our customers — we can now leverage a complementary product portfolio, additional manufacturing capacity across two sites to meet the growing needs of our customers, and a more robust supply chain.”
Grace Matthews, Inc., a Milwaukee-based investment bank, provides merger, acquisition, and corporate finance advisory services to private and public companies across the chemical and materials value chain. Over the past two decades, Grace Matthews has successfully completed over 200 transactions on behalf of clients ranging from private, middle-market companies to large, foreign or U.S.-based multinationals.
For more information, visit: www.gracematthews.com.