Quest Specialty Chemicals: Valspar Acquires Quest Specialty Chemicals

Valspar has announced the acquisition of Quest Speciality Chemicals, which includes the firm's automotive refinish business. (Photo credit: Valspar Corporation)This week, the Valspar Corporation announced that it completed the acquisition of Quest Specialty Chemicals, Inc., including its automotive refinish and industrial coatings business.The acquired businesses boasted sales of approximately $190 million. Financial terms of the agreement were not disclosed.Referring to the acquisition, Gary Hendrickson, Chairman and CEO, Valspar Corporation, said that, "we're excited to welcome the Quest team into the Valspar family and look forward to accelerating our growth in automotive refinish and industrial products."Hendrickson added that, "our customers will benefit from an expanded distribution of a portfolio of preferred brands they know and trust, a broader range of high-performance products and a stronger service network."Quest Automotive Products formulates, manufactures, and distributes a complete line of advanced technology paints, coatings systems, and accessories to professional refinishers under the well-respected brands of Matrix, Prospray, and USC, mostly in North America and Europe.Quest Industrial Products serves both the professional and consumer markets with aerosol spray products and highly-specified coatings for industrial applications under the Patriot, Raabe and Precision Color brands, primarily in North America.Founded in 1806, and headquartered in Minneapolis, Minn., Valspar is recognized as a global leader in the coatings industry providing customers with innovative, high-quality products and value-added services. For more information, visit valspar.com and follow @ValsparCo on Twitter.