The Valspar Corp. has completed the previously announced acquisition of the performance coatings businesses of Quest Specialty Chemicals Inc., which include automotive refinish and industrial coatings.
The acquired businesses had 2014 sales of approximately $190 million. Financial terms were not disclosed, according to a press release.
“We’re excited to welcome the Quest team into the Valspar family and look forward to accelerating our growth in automotive refinish and industrial products,” said Gary Hendrickson, Valspar chairman and chief executive officer. “Our customers will benefit from expanded distribution of a portfolio of preferred brands they know and trust, a broader range of high-performance products and a stronger service network.”
Quest Automotive Products formulates, manufactures and distributes a complete line of advanced technology paints, coatings systems, and accessories to professional refinishers under the Matrix, Prospray and USC brands, primarily in North America and Europe, the release noted.
Quest Industrial Products serves both the professional and consumer markets with aerosol spray products and highly-specified coatings for industrial applications under the Patriot, Raabe and Precision Color brands, primarily in North America.