Sep 19, 2019

High Road Capital Partners' Portfolio Company U-C Coatings Acquires Eco Chemical

High Road Capital Partners ( announced today that its portfolio company U-C Coatings ( has completed the acquisition of the assets of the stains and industrial coatings business of Eco Chemical, Inc. (, marking the company’s second acquisition under High Road’s ownership. 

Founded in 1991, Seattle, Washington-based Eco Chemical is a leading manufacturer of water-based stains and coatings used on pressure treated wood and in the manufacturing of wood products such as fencing, decks, and exteriors. 

“The acquisition of Eco Chemical deepens U-C Coatings’ position in the softwood market, adds the pressure treating channel, and broadens U-C Coatings’ product offerings by introducing stains and coatings that capitalize on trends such as vintage wood,” said Jeff Goodrich, Partner, High Road Capital Partners. “It also expands U-C Coatings’ geographic presence on the West Coast and gives customers on the East Coast access to new products for the pressure treated lumber market.”    

“With the addition of Eco Chemical’s innovative products and customization capabilities, U-C Coatings is well positioned for accelerated growth,” said Eric Degenfelder, Chief Executive Officer, U-C Coatings. “We are now able to serve customers as a complete provider of stains and coatings in both the hardwood and softwood markets,” Degenfelder said. 

Mark Cheirrett, President and CEO of Eco Chemical said, “We are excited to join with U-C Coatings and bring a larger service team, greater product development capabilities and an array of new products to our customers.” 

U-C Coatings’ acquisition of Eco Chemical closed on September 9, 2019. Mr. Goodrich led the transaction for High Road and was assisted by Jeff Leone, Operating Partner; Eojin Lee, Vice President; and Anthony Tripodoro, Associate. Madison Capital provided financing for the transaction. Jones Day provided legal counsel to High Road. Transaction consideration was not disclosed. 

Company founders Mark Cheirrett and Peg Cheirrett invested in the transaction alongside High Road.

U-C Coatings was acquired by High Road Capital Partners Fund II in January 2018. Its acquisition of Eco Chemical follows its acquisition of Contechem in August 2018. 

High Road Capital Partners has completed 57 transactions – 20 platform investments, 30 add-on acquisitions, and seven exits – since its founding in 2007.

For further information, please contact Jeff Goodrich of High Road Capital Partners at (212) 554-3268. 

High Road Capital Partners 
High Road Capital Partners is a private equity firm focused on the smaller middle market. High Road was formed in 2007 and has raised over $470 million of committed capital since inception. High Road targets niche-leading companies with revenues of $10 million to $100 million and EBITDA of $3 million to $10 million. Post-acquisition, High Road works in partnership with management to take the companies to the next level through a combination of organic growth initiatives and add-on acquisitions.

Eco Chemical, Inc.
Founded in 1991, Eco Chemical is a manufacturer of innovative, made-to-order waterborne wood paints, stains and industrial coatings. The company is a leader in developing the latest technology in paint chemistry and the best thinking about environmental stewardship when working with paint and coating products. Eco Chemical is based in Seattle, Washington. 

U-C Coatings
Founded in 1971, U-C Coatings is the premier manufacturer and supplier of wood protection products and end paints for the North American hardwood market. Its products include ANCHORSEAL® end sealer for logs and lumber, GEMPAINT® lumber tagging paints, SEAL-ONCE® waterproofers and CONTECHEM sapstain control products. The company is headquartered in Buffalo, New York, with seven additional third-party logistics facilities. 


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