Caltius Equity Partners Sponsors Acquisition of National Industrial Coatings, Inc.
January 6, 2011
Los Angeles, CA (January 6, 2011) – Caltius Equity Partners has acquired a controlling interest in National Industrial Coatings, Inc. (“Nicoat”). Founded in 1982, Nicoat is a leading developer and manufacturer of customized overprint coatings for graphic arts, flexible packaging, and other specialty coating applications. Headquartered in Itasca, IL, Nicoat sells its products throughout North America and has a rapidly growing presence in Latin America.
“We are extremely excited to partner with Caltius, especially given their past success in the specialty chemicals industry. The management team and I are impressed by their thorough understanding of the business. Having a knowledgeable partner will help us continue to achieve our strategic growth initiatives,” added Chuck Turnbull, President of Nicoat.
“We look forward to supporting Chuck and his team as they to continue to build Nicoat’s business throughout the US and internationally. The company’s ability to grow through this difficult economic environment is a testament to its high quality products, deep technical abilities and strong management team,” said Jeffrey Holdsberg, Managing Director of Caltius.
Nicoat is the eighth investment out of Caltius’ second private equity fund, Caltius Equity Partners II, LP.
Based in Los Angeles, Caltius Equity Partners has been making control and substantial minority equity investments in amounts of $5 million to $20 million since 1999. Caltius Equity Partners invests in the consumer and business services, education, healthcare services, and light manufacturing industries. For more information, please visit www.caltiusequity.com or call us at (310) 996-9566.