With production facilities in Illinois and Southern California, Specialty Coatings Company is a leading U.S. manufacturer of liquid industrial coil coatings. Its products are used widely for coating coiled sheet steel, aluminum, and galvanized metals for industrial and consumer product applications.
Founded in 1953, Specialty Coatings was owned by members of the family of Specialty’s founder, Seymour “Shim” Neems. The Company engaged Grace Matthews to develop liquidity for the founder and other family members, while retaining an ongoing management role for Specialty’s President, Jack Neems.
Grace Matthews negotiated the acquisition of Specialty Coatings by Becker Industrial Coatings, a North American subsidiary of AB Wilh. Becker. Already a leading coil coatings producer in Europe and Asia, Beckers was able to strengthen its U.S. operations through the acquisition.
The acquisition also allowed Specialty’s shareholders to achieve their goals: liquidity for the family, continuity for management and employees, and a commitment to maintain and expand the Company’s position as an innovative, environmentally sensitive leader in coil coating products.
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Grace Matthews advised Specialty Coatings Company