VersaFlex, a portfolio company of DalFort Capital Partners since March 2017, has acquired Specialty Products.
Specialty Products (SPI) is a manufacturer of spray-applied polyurea elastomers and polyurethane foams as well as a maker and distributor of polyurea coating and polyurethane foam application equipment.
The company, led by President Dan Helton, was founded in 1974 and is headquartered in Lakewood, WA (near Tacoma) with additional facilities in Rowlett, TX; Chicago, IL; and Anchorage, AK (www.specialty-products.com).
VersaFlex formulates, manufactures and distributes polyurea-based protective coatings, linings, joint fillers and repair materials that are used in the industrial, commercial, transportation and maintenance sectors. The company is led by CEO David Cerchie and is based in Kansas City, KS (www.versaflex.com).
“Dan Helton and the SPI team have developed an impressive suite of formulated solutions for demanding industrial and commercial environments. We are pleased to announce our partnership and look forward to working together to improve our offering and service to customers,” said Bryan Bailey, managing partner of DalFort Capital Partners.
The buy of Specialty Products is the third add-on acquisition completed by VersaFlex under DalFort ownership. The two earlier buys were Milamar Coatings, an Oklahoma City, OK-based manufacturer of resinous coatings for floors, walls, and industrial applications (acquired from ShoreView Industries in September 2018); and Raven Lining Systems, a Broken Arrow, OK-based provider of epoxy linings used in the protection and rehabilitation of wastewater, water and storm-water infrastructure (acquired in January 2018).
DalFort Capital Partners invests in companies with enterprise values up to $100 million that have revenues of $15 million to $100 million and EBITDA of $3 million to $15 million. Sectors of interest include industrial manufacturing and services; specialty chemicals; building products; energy products and services; and logistics and transportation. The firm is headquartered in Dallas (www.dalfortcapital.com).
© 2019 Private Equity Professional | May 13, 2019
