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| Client: |
The Flood Company (“Flood” or the “Company”) |
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| Business: |
Founded in 1847, Flood is a family-owned business that has served the paint and specialty coatings industry for more than 160 years. The Company is a leading producer of specialty coating and wood paint additive solutions for consumer, commercial and industrial applications. Flood products such as CWF-UV®, CWF-UV5®, Restora® and Penetrol® are designed to restore, protect and beautify natural woods, exterior vinyl and other challenging surfaces. |
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| Client Objective: |
Flood’s primary objectives were to achieve a premium valuation for the business, with a buyer committed to maintaining the Flood brand as well as the Company’s corporate headquarters and primary manufacturing facility in Ohio. The Company’s majority owner, Peter Flood, engaged BGL to manage the sale of the Company due to BGL’s extensive experience representing U.S.-based middle market companies in sale processes to large multinational buyers. |
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| Results: |
Throughout the sale process, BGL was able to leverage its prior consumer products and specialty chemicals transaction experience to mitigate concerns over the challenging selling environment associated with big-box retailers, as well as the potential for undocumented environmental liabilities arising from Flood’s long history of manufacturing at its existing facility. Ultimately, BGL was able to facilitate the negotiation of a premium valuation and attractive deal terms on behalf of Flood.
The acquisition of The Flood Company provides Akzo with an excellent platform to leverage its existing North American Decorative Coatings operations, allowing Akzo to further penetrate the attractive U.S. and Canadian markets. Flood will continue to operate and manufacture from the existing Hudson facility.
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