SK Capital-backed Canlak Coatings buys wood coating systems provider Ceramic Industrial Coatings

• SK Capital formed Canlak Coatings in May 2021
• Northborne Partners LLC acted as financial advisor to Ceramic Industrial Coatings
• SK Capital targets the specialty materials, specialty chemicals, and pharmaceuticals sectors

Canlak Coatings, which is backed by SK Capital, has acquired Ceramic Industrial Coatings, a North Brunswick, New Jersey-based maker of wood coating systems and related CASE products. No financial terms were disclosed.

Canlak Coatings is a provider of wood coating systems for commercial and residential flooring, sports flooring, cabinet, furniture, and wood focused architectural applications.

SK Capital formed Canlak Coatings in May 2021 through a series of acquisitions to create a North American wood coatings company.

“The addition of Ceramic Industrial Coatings to the Canlak platform significantly enhances the company’s leading position in the North American OEM wood coatings market,” said Jon Borell, a managing director of SK Capital, in a statement. “The combined company will utilize a broader technology base in conjunction with an agile, solutions-oriented service model to support customers in our markets.”

Klehr Harrison LLP acted as legal counsel to Canlak Coatings. Northborne Partners LLC acted as financial advisor to Ceramic Industrial Coatings.

SK Capital targets the specialty materials, specialty chemicals, and pharmaceuticals sectors. The firm currently has approximately $7.2 billion in assets under management.