BUSINESS: Century Park Establishes Third Specialty Chemicals Platform And Recapitalizes NCP Coatings

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Daniel Webster, dWeb.News Publisher

LOS ANGELES–(BUSINESS WIRE)–Century Park Capital Partners is pleased to announce the recapitalization of NCP Coatings, Inc. (“NCP” or the “Company”). NCP, headquartered in Niles (MI), develops and produces technologically advanced performance coatings for military, commercial, and forest end markets. Century Park’s third platform and eleventh overall investment in the Specialty Chemicals industry with NCP is a landmark. C.M. Hannewyk II founded

NCP Coatings. “Marvin” Hannewyk II and was incorporated in 1948. The company was originally established to supply paints and coatings for Studebaker, a nearby South Bend, Indiana-based company that makes military vehicles. Since 1948, NCP has continued to evolve, building an impressive portfolio of easy-to-apply, specialized formulations used to protect critical military and industrial assets. NCP manufactures and supplies a wide variety of high-performance technologies, including anti-corrosive epoxy system, high gloss urethane system, market-leading polysiloxanes and unique specialty systems for forestry clients, as well as a wide array of MIL-SPEC-approved military coatings. NCP’s third generation family ownership, Ben and Nat Hannewyk have continued the tradition of excellence in customer service and customer focus to this day.

Charlton Keultjes is currently the President and COO of NCP. He said, “We are thrilled to partner with Century Park as NCP enters its next phase.” Century Park’s core values and team align well with NCP’s Hannewyk family ownership. Century Park’s track record of success in the specialty chemical industry is a perfect fit as we seek to invest in expanding NCP by adding new talent, new capabilities, and combining our strengths with other performance coatings businesses through strategic acquisitions.”

Tony Trevino, Principal with Century Park, added, “With a strong internal research and development team and a 70+ year track record of delivering high quality products, NCP has built an excellent reputation with its customers and in the markets it serves. We are delighted to work with management and support NCP in its expansion into new markets.

This transaction was completed under the Century Leaders Program ,, a new Century Park initiative. It is an executive-led buy-and-build acquisition strategy. Century Park partners up with an Operating Partner, or C-level executive from a targeted sector to dedicate a deal team as well as search resources to a specific investment area. Doug Holmberg is an executive from Century Park’s Century Leaders Program, covering the Specialty Chemicals Sector. He helped to source the transaction opportunity and will now join NCP Coatings, as a Board Member, and CEO. Doug is a coatings industry veteran with more than 25 years of experience in the industry. Doug was most recently the Business Director for the Automotive and Specialty Coatings section for Akzo Nobel’s Americas region.

Martin Sarafa, Managing Partner with Century Park, commented, “For the last 20 years, our focus has always been partnering with proven industry executives to invest in family and founder-owned businesses. We have now formalized our partnership with Doug to create a strategy and thesis in a particular sector before an acquisition. This approach allows us to accelerate the execution of our value creation plan and provides an exciting opportunity for entrepreneurially-minded executives looking for a collaborative private equity partner.”

BMO Sponsor Finance provided the debt financing for the transaction. The terms of the transaction are not known.

About NCP Coatings:

Founded in 1948, NCP Coatings develops and manufactures technologically advanced performance coatings solutions for the military, industrial, commercial, and forestry end markets. The Company continues to grow and build on its legacy as a supplier of coatings to Studebaker military vehicles following World War II. NCP manufactures and supplies a wide variety of high-performance technologies, including anti-corrosive epoxy system, high gloss urethane system, market-leading polysiloxanes and unique specialty systems for forestry clients, as well as a wide array of MIL-SPEC-approved military coatings. NCP’s headquarters are in Niles (MI), with an additional warehouse facility in Mishawaka, IN. For more information on NCP Coatings, please visit www.ncpcoatings.com.

About Century Park Capital Partners:

Century Park Capital Partners is a Los Angeles-based private equity group established in 2000 that invests in family businesses, owner-operated firms and corporate divestitures with the purpose of accelerating growth and transforming these companies into leading industry players. Our focus is on acquiring strategic, well-resourced middle-market companies with potential for value creation. Our C-level executives (“Century Leaders”) are able to help us build an investment thesis and evaluate potential opportunities. They also assist us in leading portfolio companies through the value creation process. Our Operating Team leads our best-practice and operational support for our investments, including infrastructure additions and buy-and-build acquisition integration programmes. For more information on Century Park, please visit www.centuryparkcapital.com.

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