Delos Capital has acquired California Products Corporation, a maker of water-based specialty chemical coatings.
California Products Corporation (CPC) is a manufacturer of water-based specialty chemical coatings used in consumer and industrial applications, including tennis court and track recreational coatings, high-end consumer paints and stains, and specialized environmental remediation coatings. The company is headquartered in Andover, MA (www.californiapaints.com).
“Delos is excited to partner with CPC’s management team for the next stage of the company’s growth,” said Matthew Constantino, founder of Delos. “CPC is a best-in-class company in the specialty coatings and paints sector, and we are confident that this partnership between management and the investor group will strengthen the company’s market position.”
Delos Capital invests in North America-based lower middle-market companies in the chemicals, packaging, industrials, and consumer sectors. The firm was founded in 2013 and is based in New York (no website found).
“CPC’s experienced management team looks forward to working with Delos to accelerate our growth and leverage our platform into new products and markets,” said Peter Longo, Chairman and Chief Executive Officer of CPC.
Joining Delos on this investment is Satori Capital which invests in companies that have revenue of $25 million to $200 million and free cash flow of $3 million to $15 million. Sectors of interest include business services; consumer products; e-commerce; financial services; manufacturing; and software/IT/telecom. Satori Capital is based in Dallas (www.satoricapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 12-5-13
