"PPC delivered the results we expected and went beyond in every aspect of the process. It is with gratitude that we were able to find a perfect fit so our company can continue to grow with its new owners." Toney Priewe President Color Putty Company, Inc.
Promontory Point Capital is excited to announce another one of our firm’s recent client successes.
Color Putty Company manufactures and distributes colored putties used for filling nail holes or imperfections in woodwork, paneling, furniture, and cabinetry. Established in 1963 with its headquarters in Monroe, Wisconsin, the Company’s putty lines are the market leader among Do-It-Yourself consumers, professional building and home improvement contractors, as well as in the modular housing and recreational vehicle industries. Produced in the USA, Color Putty is sold across North America through national and regional distributors into retail paint and hardware stores, home improvement stores, and OEM manufacturers. Color Putty products are available in both oil-based and waterborne lines in a wide spectrum of colors to achieve vibrant hues in light and dark-colored wood.
As this family-owned business began to contemplate succession planning goals, the Company’s law firm referred the ownership group to Promontory Point Capital. PPC was subsequently engaged to explore strategic alternatives for this branded, building products business, and the firm marketed Color Putty to a targeted audience of strategic acquirers with existing exposure to the building products industry. After soliciting preliminary offers, PPC assisted in negotiating a Letter of Intent with U-C Coatings. Based in Buffalo, New York with a variety of operating units (including Kenosha, Wisconsin), U-C Coatings is a world leader in wood protection products that address surface protection, beautification, restoration, and repair. U-C Coatings is a portfolio company of High Road Capital Partners, a private equity firm based in Connecticut. PPC managed the entire engagement and assisted in closing the transaction during the second quarter of 2023 representing another successful Done Deal for our firm. Read Press Release
Christopher Riegg is an investment banking professional with over three decades of experience providing strategic and financial guidance to business owners and executives. As a partner at Promontory Point Capital, Christopher Riegg has worked with over 200 companies across various industries, including manufacturing, distribution, technology, and services. His focus areas include mergers and acquisitions, debt restructuring, recapitalization, and private equity capital.
PROMONTORY POINT CAPITAL
MILWAUKEE
Chris Riegg
Partner
[email protected]
Bill Penkwitz
Partner
[email protected]