Valentus Specialty Chemicals (North Brunswick, N.J.), parent company of wood floor coatings brands Absolute Coatings, PoloPlaz, Sampson Coatings, Absco Sports, Last N Last, PolyCare and Wilson Imperial, was purchased by SK Capital Partners, a private investment firm, for an undisclosed amount.
SK Capital also announced the purchase of Canadian coatings company Canlak Inc., and merged both companies to form Canlak Coatings, headquartered in North Brunswick, N.J., as of June 1.
“The combined company will offer a comprehensive portfolio of wood coatings products to serve the sports, commercial and residential flooring, cabinet and furniture manufacturing sectors,” stated Mario Toukan, a managing director of SK Capital. “We see tremendous opportunity to build upon a solid portfolio of brands, including Canlak, Poloplaz, Absco and Sampson Coatings, to provide value and solutions to the company’s North American customer base.”
Robert Jamieson was appointed president and CEO of Canlak Coatings. Jamieson has more than 30 years of experience in the chemicals industry, serving most recently as an executive at VersaFlex, a provider of specialty coatings, linings and foams.
Valentus’ former staffing organization will remain in place following the transition, with the exception of CEO Dave Brunori, who has left the company to pursue other interests.
Canlak Inc.’s CEO Normand Guindon was appointed executive chairman of the board of the new company.
SK Capital’s portfolio of businesses generates revenues of approximately $11 billion annually and employs more than 16,000 people globally, according to the firm.
