MILWAUKEE (May 30, 2023) – Rudd Company, Inc. (“Rudd” or the “Company”), an independently-owned wood coatings manufacturer based in Seattle, Washington, has entered into an agreement to sell substantially all of its assets, including the Rudd® Wood Finishes and Glitsa® Floor Finishes brands, to Gemini Coatings, an Oklahoma-based and 100% employee-owned wood coatings manufacturing company. Grace Matthews, Inc. served as financial advisor to Rudd on the transaction.
Founded in 1912, Rudd is a long-standing manufacturer and supplier of premium wood coatings, stains, and finishes. Rudd’s products, marketed under the Rudd® Wood Finishes and Glitsa® Floor Finishes brands and trusted by wood finishers, distributors, and consumers, are used in cabinetry, millwork, wood flooring, and other interior applications.
“Rudd has built trusted brands and a robust product line,” said Chris Hicks, President/CEO of Gemini Coatings. “Their reputation for innovation, reliability and customer service is a perfect fit with our own values and mission and we look forward to the opportunity to expand our range of solutions for our customers.”
“I am incredibly proud of the reputation Rudd maintained over its 100+ year history as an organization focused on the customer. We’ve always understood that whatever we send out the door ultimately becomes an integral part of someone else’s product or service offering,” commented Laurel Jamison, CEO and owner of Rudd. “As a firm believer in the important role independents fulfill in our industry, I’m excited that the Rudd® and Glitsa® brands will continue as a part of Gemini and their current family of brands. I’m confident the combination of products coupled with access to additional technologies and services will add value to new and existing customers for many years to come.”
ABOUT RUDD COMPANY
Founded in 1912 and based in Seattle, Washington, Rudd Company is an independently-owned manufacturer of wood coatings, finishes, and stains. Rudd is committed to providing quality products and innovative solutions to meet the ongoing technical needs of both the professional and consumer coatings user. The Rudd family of quality brands, Rudd® Wood Finishes and Glitsa® Floor Finishes, are recognized for beauty and distinction without comprising durability and protection. For more information on Rudd, visit ruddcompany.com.
ABOUT GEMINI COATINGS
Gemini manufactures and distributes wood coatings across North America with seven manufacturing and distribution facilities. Gemini has supplied paint companies, industrial wood coatings distributors and OEM wood coatings users for nearly 60 years. For more information, visit Gemini-Coatings.com.
ABOUT GRACE MATTHEWS
Grace Matthews, Inc., a Milwaukee-based investment bank, provides merger, acquisition, and corporate finance advisory services to private and public companies across the chemical and material science value chain. Over the past two decades, Grace Matthews has successfully completed over 200 transactions on behalf of clients ranging from private, middle-market companies to large, foreign or U.S.-based multi-nationals. For more detailed information on Grace Matthews, visit gracematthews.com.