September 6, 2022 – A.P. Nonweiler, Co. (“APN” or the “Company”), a portfolio company of Renovo Capital, LLC (“Renovo”) and a leading manufacturer of specialty coatings, is pleased to announce the acquisition of Vortex Coatings Inc. (“PurEpoxy”) and Groupe Distribution Inc. (“Ice Epoxy”). Founder Erik Gravel has built PurEpoxy into a leading North American concrete coatings manufacturer.
PurEpoxy formulates and manufactures a focused product line of protective and decorative concrete coatings systems for the residential and commercial markets, selling primarily through a network of distribution partners globally. Ice Epoxy produces a suite of DIY resins for hobby and craft projects.
Mark Nonweiler, APN Founder and Board Member, commented, “We are excited to partner with Erik and the PurEpoxy team to grow our concrete coatings business together. Erik has built a thriving business through his energy and drive, deep understanding of the product requirements, and customer service orientation. APN’s 75 year history and track record of working closely with its customers to develop custom coating solutions will bring significant R&D capabilities to innovate and provide new products to our combined concrete coatings customer base. We look forward to supporting Erik’s growth with the technical, manufacturing, and supply chain capabilities at APN.”
Erik Gravel, CEO of PurEpoxy, commented, “APN is the perfect partner to enhance our mission to provide the best coatings systems at competitive prices to our customers—we can now leverage a complementary product portfolio, additional manufacturing capacity across two sites to meet the growing needs of our customers, and a more robust supply chain.”
The investment in PurEpoxy and Ice Epoxy represents the first add-on acquisition completed by A.P. Nonweiler since the investment by Renovo in March 2022. A.P. Nonweiler is actively seeking partnerships with manufacturers in concrete, industrial, and protective coatings categories.
About A.P. Nonweiler
Founded in 1929, A.P. Nonweiler (www.apnonweiler.com) is an Oshkosh, Wisconsin-based coatings manufacturer specializing in difficult-to-produce, specialty and small batch industrial coatings. APN operates out of a 261,000 square foot manufacturing facility, to produce a comprehensive portfolio of industrial coatings products serving a variety of end markets and applications.
About PurEpoxy
PurEpoxy (www.purepoxy.com) is a leading North American manufacturer of high-quality liquid polymer products for commercial, industrial and residential projects. Their products are used to make decorative coatings, concrete repair compounds, chips and quartz floor systems. PurEpoxy polyaspartic and epoxy concrete coating systems offer consistency while providing long-lasting durable finishes.
About Renovo
Renovo Capital is a Dallas, TX – based lower middle market private equity firm comprised of seasoned operating and investing professionals. Renovo makes control investments in technical businesses that have the potential to generate meaningful value through operational improvements and strategic initiatives. Since its founding in 2009, Renovo has completed over 30 transactions and raised over $400 million of committed capital. For more information, please visit www.renovocapital.com.
Media Inquiries:
Renovo Capital
Carter Fine
Office: 214-699-4962
Email: Carter.Fine@renovocap.com