(PRWEB) December 02, 2013 -- Sidereal Capital Group, LLC today announced that it has partnered with Argosy Private Equity to acquire U∙C Coatings Corporation.
Headquartered in Buffalo, NY, U∙C Coatings manufactures and distributes wood protection products for the logging, lumber, furniture, and woodworking industries. The Company’s flagship ANCHORSEAL® branded products are an industry leading line of wax based emulsion end sealers, designed to prevent splitting and degradation of freshly sawn, high value hardwood logs and lumber during processing. In addition to ANCHORSEAL®, the Company also offers GEMPAINT®, a water-based paint used by lumber suppliers to brand their products and enhance overall appearance, as well as other related niche market wood protection products.
“We are truly delighted by the opportunity presented by this partnership with Sidereal and Argosy,” said the Company’s CEO, Norm Murray. “My father founded this company in 1971 and over the past 40 years we have grown from a small “mom and pop” operation to the premier supplier in our industry. This investment advances us to the next level and provides the strategic investment and technical assistance necessary to support and accelerate our continued growth.” Added Tom Johel, the Company’s President and COO, “U∙C Coatings is presented with an enormous opportunity as the outlook for the North American hardwood market improves alongside the rebound in the U.S. housing market and I believe that this partnership better positions us to pursue new expansion initiatives while continuing to provide our existing customers with the level of service that they have come to expect.”
About Sidereal Capital Group, LLC
Sidereal Capital Group, LLC is a boutique investment firm providing growth equity and acquisition capital to proven entrepreneurs and family-owned businesses. Our principals have a long and successful history partnering with talented operators and providing strategic guidance, financial expertise, capital investment, and analytical and operational support to help maximize the value of their businesses. Sidereal sponsors transactions at the lower end of the middle market in selected target industries. For more information, please visit http://www.siderealcapital.com.
About Argosy Private Equity
Argosy Private Equity, based in suburban Philadelphia, was founded in 1990. For over 20 years, Argosy’s experienced investment team has provided operating and financial expertise to lower middle market companies across a broad range of industries. Argosy partners with motivated management teams investing in companies with sustainable competitive advantages and growth prospects. Argosy Private Equity manages nearly $400 million and facilitates deals of varied sizes through an extensive network of partners, including senior lenders, mezzanine debt providers and equity co-investors. For more information, please visit http://www.argosycapital.com.
Kenneth Bryant, Sidereal Capital Group, LLC, http://www.siderealcapital.com, +1 (917) 912-1248, [email protected]