Valspar acquire Quest’s performance coatings businesses

Valspar to acquire Quest’s performance coatings businesses

6:05 AM, 30th May 2015
Valspar to acquire Quest’s performance coatings businesses

MINNEAPOLIS, US: Automotive coatings maker Valspar Corporation said that it has agreed to acquire the performance coatings businesses of Quest Specialty Chemicals Inc, which include automotive refinish and industrial coatings business. The transaction is expected to close in the company’s third fiscal quarter. Financial terms were not disclosed.

With 2014 sales of approximately $190 million, the businesses to be acquired from Quest include an automotive refinish business along with a smaller industrial products business. Quest automotive products formulates, manufactures, and distributes a complete line of advanced technology paints, coatings systems, and accessories to professional refinishers, primarily in North America and Europe.

Quest industrial products serves both the professional and consumer markets with aerosol spray products and highly-specified coatings for industrial applications, primarily in North America.

“The acquisition strengthens Valspar’s value proposition in automotive refinish. 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,” said Gary Hendrickson, chairman and chief executive officer, Valspar.

Valspar’s global colour labs and tools support it to match OEM and/or custom colour, wherein it has approvals from OEM’s such as Ford, General Motors, Chrysler, Mazda and Toyota, it said.

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