AkzoNobel Acquires New Nautical Coatings
AkzoNobel N.V. is set to increase its presence in the North American yacht coatings market after agreeing to acquire New Nautical Coatings, owner of the premium Sea Hawk brand. Financial details are not disclosed.
The privately-owned company is one of the top players in yacht coatings in North America. Operating a specialized production facility out of Clearwater Beach, Fla., the business is mainly active in North America, with sales also being generated in the Caribbean and Australasia.
“North America is a key region for our Yacht Coatings business – it’s the largest Yacht Coatings market in the world – so this is an excellent deal which perfectly complements our activities and offers excellent opportunities for growth,” said AkzoNobel CEO, Thierry Vanlancker.
Jean Michel Gauthier, Director of AkzoNobel’s Marine, Protective and Yacht Coatings business, said, “Acquiring New Nautical Coatings means we’re now well positioned to expand our operations in North America and further improve the service levels for our customers. It’s an established business, with a strong product portfolio, and we’re excited to welcome the widely-admired Sea Hawk brand into the AkzoNobel family.”
New Nautical Coatings was established in 1978, and the business mainly supplies premium antifouling coatings, as well as several other products, such as primers and varnishes.