Coating companies are on the acquisition menu for the week, with both Precision Coating and Kisco announcing new acquisitions of coating application companies yesterday.
Boston-based Precision Coating said it acquired nearby Hudson, Mass.-based Boyd Coatings Research Co. Precision Coating said the acquisition will allow the company to provide fluoropolymer application services for both the medical device and engineered components markets.
“We will combine and leverage the best practices from each organization to deliver an unmatched level of service and customer focus for current and future customers. Key initiatives include expanded automated coating capacity, enhanced organizational capabilities with an increased focus on engineering and quality, including PTFE formulation, and opening a coating facility in Costa Rica for our international customers,” Precision Coating CEO Bob DeAngelis said in a press release.
The combined company will shift its headquarters to Boyd’s home in Hudson, Mass, Precision Coating said. Boyd Coating Research prez Dick Downey will join Precision Coating as chief integration officer post-acquisition, the company said.
Financial terms and other details of the acquisition were not released.
“We think our customers will share our excitement as we strengthen our product offerings. The combined company will establish a global R&D center in the Hudson facility to accelerate advances in coating deposition control and related capabilities,” Downey said in prepared remarks.
Japanese firm Kisco ltd said it picked up parylene coating service and tech company Specialty Coating Systems for an undisclosed amount.
The acquired company will retain its identity and operate as Kisco subsidiary Specialty Coating Systems, and will position both companies to take advantage of combined manufacturing capabilities, Kisco said.
“We are pleased to welcome Specialty Coating Systems into the Kisco family. The management teams at Kisco and SCS are committed to continuing our strong leadership positions in the industry by providing high quality Parylene services and technologies to our customers through a combined 21 regionally positioned facilities throughout the Americas, Europe and Asia. We are also committed to expanding the market by developing and commercializing new, cutting-edge materials, processes and technologies, which will be made possible by the consolidation of our highly successful engineering teams,” Kisco prez Takekazu Kishimoto said in a prepared statement.
“This is an exciting time for our company and customers. I am proud of what Specialty Coating Systems has accomplished in the market throughout our company’s long history and am confident that the consolidation of our two companies will create an even stronger entity to better serve our customers in the future. SCS and Kisco remain committed to the highest level of quality products and customer service experiences, and we are excited about the opportunity to offer customers additional resources, locations and coating options to help make their innovations successful,” Specialty Coating Systems CEO Terry Bush said in a press release.
