Connect with us

News

PNC Riverarch Capital Acquires Painters Supply & Equipment Co.

Founded in 1952 and headquartered in Taylor, Mich., Painters Supply & Equipment has grown to 21 branch locations across Michigan, Ohio and Indiana.

Advertisement

Click Here to Read More
Advertisement

PNC Riverarch Capital announced the acquisition of Painters Supply & Equipment Co. (PSE), a leading distributor of automotive, industrial, and architectural coatings in the U.S.

Founded in 1952 and headquartered in Taylor, Mich., PSE has grown to 21 branch locations across Michigan, Ohio and Indiana. PSE serves more than 4,000 customers, including collision repair shops, auto dealerships, fleet operators and various other commercial and industrial accounts. PSE is a PPG Platinum Distributor and maintains strong market share across its footprint.

“Today marks an exciting new day for the future of Painters Supply & Equipment Co.,” said Patrick Mayette, CEO of PSE. “I am excited to partner with PNC Riverarch Capital to accelerate the growth of our business. We will continue to deliver the highest quality products, superior service and value-added programs to our customers. We are excited for the company’s next phase of growth.”

Advertisement

The transaction for PNC Riverarch Capital was led by Michael Hand, managing director; Andrew Wiechkoske, principal; Ian Garland, associate; and Zachary Mittelmark, associate. PNC Riverarch Capital will be represented on the Board of Directors by Hand, Wiechkoske and Garland. Senior debt financing for the transaction was provided by NXT Capital. Skyline Global Partners and management were major co-investors to PNC Riverarch Capital on the transaction.

“PSE’s close partnership with PPG and strong customer value proposition have generated an impressive track record of growth,” said Hand. “We were particularly attracted to the company’s talented management team, highly attractive business model and strong customer relationships.”

Advertisement

Added  Wiechkoske, “We look forward to partnering with the PSE team to continue to build the best distributor of automotive, industrial and architectural coatings and associated products in the United States. We are immediately pursuing multiple add-on acquisition targets and have a healthy appetite for additional opportunities.”

Advertisement
Click to comment

POPULAR POSTS

Sponsored Content

4 Ways Training Can Help You Succeed During this Time

Sponsored Content

Pro Spot International Launches New PR-5 Mobile Riveting and Bonding Station

Sponsored Content

Preaching to the Non-Converted: Shops Speak Out on Proper Scanning, Diagnostics and Calibrations

Sponsored Content

PRIMED FOR PRODUCTIVITY

Connect
BodyShop Business