Star Step Acquires DAAS & Chemicals, Expands Industrial Coatings Platform
Star Step Performance Coatings Group has acquired DAAS & Chemicals, a Pordenone, Italy-based manufacturer specializing in industrial wood coatings and related specialty applications. The transaction closed Oct. 12. Financial terms were not disclosed.
The acquisition marks Star Step’s first expansion outside the United States and gives the group manufacturing operations in North America, Europe and Asia. Following the transaction, the combined organization employs approximately 250 people and generates roughly $80 million in annual revenue.
DAAS operates manufacturing facilities in Italy, the Philippines and the United States and serves customers in more than 60 countries. The company has particular expertise in coatings for wood pallets and other packaging applications.
Its portfolio includes concentrated waterborne coatings designed for fast drying and industrial application, along with waterborne glass coatings, adhesives and pigmented paste systems. Star Step said DAAS will also add specialized formulation and R&D capabilities that can support the group’s U.S. operating companies.
Star Step plans to use its commercial, technical and manufacturing resources to expand DAAS beyond its established wood-packaging position into broader industrial wood-coatings markets.
DAAS will continue to be led by co-founder Carlo Della Toffola as general manager. Co-founder Stefano Antoniazzi will remain involved as a strategic advisor.
The company joins a Star Step portfolio that includes Richard’s Paint Manufacturing, Trinkote Industrial Finishes, ALTA Paints & Coatings, Desert Polymer Flooring and Royal Powder. Star Step added Royal Powder earlier this year, expanding the platform from liquid and flooring systems into custom powder coatings.
Star Step said it continues to evaluate additional acquisitions, including opportunities in the Italian coatings market.
The transaction expands an independent supplier platform serving the industrial coatings market, with liquid, powder, wood and specialty-coatings capabilities now spanning three regions.
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