Acquisition of Williams plc’s Paint Group Completed
NEW YORK — The Jordan Co. LLC of New York announced the completion of the acquisition of the North American architectural coatings group formerly owned by Williams plc of the United Kingdom, which includes several major regional coatings companies in the United States and Canada.
The companies have been acquired by a newly formed corporation, Professional Paint Inc., headed by President and CEO Kent P. Child of Kwal-Howells Paint Co. The Jordan Co. is an investment firm specializing in acquisitions.
The acquisition includes Frazee Paint of San Diego; Kwal-Howells of Denver; Parker Paint Mfg. of Tacoma, WA; and General Paint of Vancouver, British Columbia. The companies will operate as wholly owned subsidiaries of Professional Paint Inc., but will continue to operate independently, said Child. “The companies will enjoy numerous strategic and financial benefits operating under a common holding-company structure while maintaining their separate identities, product lines and factories,” he said. Professional Paint Inc. also plans to expand through acquisition of other regional paint manufacturers, the company said.
In an earlier, separate transaction, Williams plc sold Masterchem Industries Inc., a specialty-paint manufacturer, to Masco Inc.