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Meridian General Capital buys PCS

Meridian General Capital has acquired Anaheim, California-based PowderCoat Services, a production powder coater. No financial terms were disclosed.

PRESS RELEASE

LOS ANGELES, Aug. 30, 2016 /PRNewswire/ — Meridian General Capital announced that it had completed the acquisition of PowderCoat Services (PCS), a production powder coater offering its customers a diverse range of related services.

Since 1981, the company has established a strong reputation for offering high quality, customized value added services to its blue-chip customers. Today, PCS is able to provide a new and unique process called Electrophoretic Deposition (EDP), the liquid coating process that deposits cross-linked organic polyurethane to any metallic and select non-metallic surfaces using electrical current.
PCS serves a wide spectrum of industries including Automotive, Home Improvement, Consumer Products, Sports Equipment, Musical Instruments, Electronics, Cleaning & Sanitizing, and the Military.

Ravi Rao, Founder & Chairman of Meridian, said, “With this acquisition Meridian intends to build a dynamic industrial services enterprise. PCS provides a solid platform that has been successful in this highly specialized niche, one that is critical to its customers and environmentally a sound replacement to paint processes. Additionally, the expertise of key management staff will assure us of meeting our ambitious growth plans in this industry segment. The company’s emphasis on process innovation as evidenced in their investment in the new EPD process should help us expand into new geographic territories and also address additional markets.” Ravi Rao will serve as the Executive Chairman of PCS.

About PCS – Based in Anaheim, CA, PCS operates in 5 plants within an industrial park. Powder coatings were originally developed as an environmentally sound method of painting commercial parts, and has become one of the most common finishes. Most of these coatings are various shades of black, though PCS carries many colors, and come in various gloss levels and textures. Each finish, also, can be manipulated to fit specific needs such as UV protection or resistance to oils. PCS is an expert in providing the customer with their perfect formula of PowderCoat finish. PCS offers its customer-tailored value added services including tube bending, fastener installation, light manufacturing, final assembly, and supply chain management. The company provides personalized service and by using its own fleet of trucks and drivers PCS not only is a high quality service provider, but also a company its customers can trust to deliver. www.powdercoatservices.com

Meridian General Capital is a Los Angeles, CA based private equity group that invests in lower middle market growth industries and is focused on acquiring businesses that have a history of operating profits. The firm invests in industries that it has extensive operational expertise in such as Aviation & Aerospace, Technology, Logistics & Distribution, Telecommunications, Travel, Online Marketing, E-Commerce, Business Services, Packaging, niche and light manufacturing. www.meridiangeneral.com