Material Sciences Corp, a portfolio company of U.S. private equity firm Insight Equity, recently acquired Continuous Colour Coat Ltd, a.k.a. Metal Koting. Based in Rexdale, Ontario, Metal Koting provides galvanized, painted, and printed steel and aluminum coils to a variety of companies in the construction, automotive, leisure product, and packaging industries. Detroit-based Material Sciences, a specialty coater and laminator of steel and aluminum products, said the deal complements its capabilities and broadens its geographic reach. Insight Equity’s portfolio investments in Canada include A.P. Plasman Inc.
Material Sciences Acquires Metal Koting
SOUTHLAKE, Texas and CANTON, Michigan – January 5, 2016 – Insight Equity Holdings LLC (“Insight Equity”), the Southlake, Texas headquartered private equity firm, is proud to announce that its portfolio company Material Sciences Corporation (“Material Sciences”) has acquired Continuous Colour Coat Ltd., recognized in the market by its tradename Metal Koting. Known for its diverse metal coating capabilities, Metal Koting provides galvanized, painted, and printed steel and aluminum coils to a variety of companies in the construction, automotive, leisure product, and packaging industries. Metal Koting operates out of a single site facility in Toronto, Ontario.
Pat Murley, CEO of Material Sciences, commented, “We are excited to bring Metal Koting onto the Material Sciences team. Metal Koting complements the capabilities we have at our other four operating locations in Ohio, Indiana, and Illinois and broadens our geographic reach.”
“Metal Koting is the fourth add-on acquisition for Material Sciences during Insight Equity’s ownership. We look forward to continuing to support the Material Sciences team in further value creating activities,” remarked Jack Waterstreet, a Partner at Insight Equity.
About Material Sciences Corporation
Material Sciences Corporation (www.materialsciencescorp.com) is a specialty coater and laminator of steel and aluminum products for niche automotive and industrial applications. Headquartered in the Detroit area, Material Sciences has production facilities in Elk Grove Village, Illinois, East Chicago, Indiana, Walbridge and Canfield, Ohio and Toronto, Ontario. Material Sciences was formerly known as New Star Metals until November 1, 2015.
About Insight Equity
Insight Equity (www.insightequity.com) makes controlling investments in strategically viable, middle market, asset intensive companies across a wide range of industries. Insight Equity specializes in partnering with companies in complex and challenging situations, including corporate divestitures, aggressive growth opportunities, restructurings, and transitions from private family ownership. The firm leverages a proven, collaborative value-creation model to facilitate operating enhancements and growth. Insight Equity’s headquarters is located near the Dallas / Fort Worth International Airport in Southlake, Texas and the firm also has an office in New York City.
Photo courtesy of Metal Koting