Huron Capital Partners LLC, a Detroit-based private equity firm, announced the acquisition of Raabe Corp. by Quest Specialty Chemicals, Seabrook, N.H. Raabe, based in Menomonee Falls, Wis., is a major manufacturer of custom-matched touch-up paint and a supplier of private-label aerosol paint-filling services. The company's touch-up products consist of ready-to-apply paints that match original equipment coatings and are used to repair the surfaces of industrial and commercial products.
Huron Capital Partners, the majority owner of Quest Specialty Chemicals, said the acquisition represents a plan by Quest to acquire companies involved in the specialty-coatings segment. Huron Capital Partners said Raabe would serve as a "platform company in Quest's coatings initiative." Quest was founded and is headed by Frederick A. Quinn, who has formerly held the positions of CEO of K.J. Quinn, president of Pierce & Stevens Co. and CEO of Royal Adhesives & Sealants.