Thursday, 22 June 2017 20:16

PNC Riverach Capital Invests In Painters Supply & Equipment Co.

PNC Riverarch Capital announced today the acquisition of Painters Supply & Equipment Co. (PSE), a leading distributor of automotive coatings in the United States.

Founded in 1952 and headquartered in Taylor, MI, 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.”

 

The transaction for PNC Riverarch Capital was led by Michael Hand, managing director. “PSE’s close partnership with PPG and strong customer value proposition have generated an impressive track record of growth,” said Mr. Hand. “We were particularly attracted to the company’s talented management team, highly attractive business model, and strong customer relationships.”

 

PNC Riverarch Capital is a middle-market private equity firm which invests in privately held companies headquartered in North America. The firm seeks well-positioned companies where it invests $10 million to $50 million of capital in support of leveraged and management buyouts, recapitalizations, corporate divestitures and growth financings.

Read 653 times