High Road Capital Partners’ portfolio company U-C Coatings has completed the acquisition of the assets of Eco Chemical, marking the company’s second acquisition under High Road’s ownership.
Madison Capital provided financing to support the transaction.
Founded in 1991, Seattle-based Eco Chemical is a manufacturer of water-based stains and coatings used on pressure treated wood and in the manufacturing of wood products such as fencing, decks, and exteriors.
“The acquisition of Eco Chemical deepens U-C Coatings’ position in the softwood market, adds the pressure treating channel, and broadens U-C Coatings’ product offerings by introducing stains and coatings that capitalize on trends such as vintage wood,” said Jeff Goodrich, partner, High Road Capital Partners. “It also expands U-C Coatings’ geographic presence on the West Coast and gives customers on the East Coast access to new products for the pressure treated lumber market.”
Jones Day provided legal counsel to High Road. Transaction consideration was not disclosed.
U-C Coatings was acquired by High Road Capital Partners Fund II in January 2018. Its acquisition of Eco Chemical follows its acquisition of Contechem in August 2018.
High Road Capital Partners has completed 57 transactions – 20 platform investments, 30 add-on acquisitions, and seven exits – since its founding in 2007.