Huron Capital Buys into Specialty Coatings Business

Huron Capital Partners LLC announced today that through its portfolio company, Quest Specialty Chemicals, Inc., it has acquired Zolatone Automotive. Zolatone will be managed under Quest’s Automotive Aftermarket Unit, Matrix System Automotive Finishes (based in Walled Lake, MI) and relocate its operations to Quest facilities in Michigan and Wisconsin.
Zolatone manufactures and markets high- performance acrylic sealers, base coats, top coats and other coatings to automotive refinish and paint distributors for sale to collision & body shops.
Terms of the transaction were not disclosed.
The acquisition marks the 5th specialty chemical company that Huron has acquired through its Quest platform, and 30th overall since the inception of the firm.
Commenting on the transaction, Michael R. Beauregard, a partner at Huron, stated “The Zolatone transaction strategically adds to Matrix’s array of refinish solutions in the automotive aftermarket.
“The transaction deepens Quest’s positioning of its core Automotive Aftermarket Unit, which together with Quest’s Industrial & OEM Unit and Construction Unit, form a diversified specialty chemicals business serving several international markets.
“Huron looks forward to committing additional equity capital to Quest as it continues to execute its buy & build strategies,” he added.