Quest Specialty Chemicals Forecasts Growth for 2010
April 11, 2010
DETROIT, MI – Despite the tough economic climate, Quest Specialty Chemicals (QSC), owned by Frederick Quinn and his partner, Gerry Loftus, is looking for its next threshold in revenues in the area of $200 million. Quinn feels this will be accomplished by a focus on the core markets of industrial, construction and transportation through both acquisition and the organic growth of its current businesses.
“We have grown since 2004 from just under $25 million to over $100 million through acquisition and organic growth, with earnings growth paralleling our revenues,” said Quinn. “Our focus is on companies with established revenue and earnings growth due to niche market positions and strong proprietary technology.”
Over the past five years, QSC has acquired: Raabe, a producer of touch-up paint and aerosols, and competitors Foxcolor and Custom Finishes; Matrix System Automotive Finishes and Zolatone, producers of automotive and industrial marine coatings; and United Coatings and Hydro-Stop, producers of roofing systems and building-envelope sustainability.
According to Quinn, the company has been successful by navigating with a well-defined and quantified strategic plan supported by specific new revenue initiatives. “Despite the challenges of raw material increases and an economic recession, the company’s earnings have grown every year. At the end of the day, it’s all about having a capable, well-focused team to make things happen in the right direction.”
Quest Specialty Chemicals was founded by Fred Quinn and is funded by Huron Capital Partners. The mission of the company is to acquire and build specialty chemical companies that are engaged in the formulation of coatings, adhesive and sealant products designed to provide surface protection to, or the bonding of, flexible and rigid substrates.