ShoreView Announces Sale of Milamar Coatings, LLC

September 2018

ShoreView is pleased to announce the sale of Milamar Coatings, LLC (“Milamar”) to VersaFlex Incorporated.  ShoreView partnered with Milamar through a recapitalization in July 2012.

Prior to ShoreView’s investment, Milamar was a traditional “family business”.  The owner of Milamar was seeking to both diversify his personal net worth and find a partner to help him achieve the next phase of the company’s growth.  ShoreView structured a transaction that:

  • Provided liquidity to the owner while enabling him to maintain a meaningful ownership position
  • Provided ample financial resources to support management’s growth plan
  • Allowed the owner to execute a planned transition from day-to-day management and into a board role

ShoreView then worked with Milamar to:

  • Complete two add-on acquisitions which expanded the company into new end-markets
  • Divest non-core operations to focus the business and production on its primary end-markets
  • Hire new leadership into the CEO role

About Milamar Coatings, LLC

Milamar is a formulator and manufacturer of specialty chemicals with a focus on complex industrial composites, adhesives, and polymer coatings.  The Company serves a diverse customer base across a variety of end markets including automotive, marine, aerospace, defense, electronics, floor coatings, construction, and infrastructure repair.

About ShoreView Industries

ShoreView Industries, based in Minneapolis, MN, manages $900 million in private equity funds. ShoreView invests in established, middle-market companies with operations in North America, across a wide range of industries. ShoreView structures a variety of acquisition, recapitalization, and build-up transactions, typically in businesses with revenues ranging between $20 million and $300 million.

222 South Ninth Street, Suite 3300
Minneapolis, MN 55402