Quest is partnering in the accord with Huron Capital Partners, a private equity firm.
Raabe’s products consist of ready-to-apply paints that closely match original equipment coatings and are used to repair the surfaces of industrial and commercial products.
David Wacker will continue to serve as president of Raabe, according to Frederick A. Quinn, Quest’s CEO.
“Partnering with Quest is consistent with our investment strategy of working with successful executives who have proven track records of building equity value,” said Michael R. Beauregard, a partner at Huron Capital. “Through Quest, we have brought together strong operating and investment expertise to create a substantial player in the specialty chemicals industry. In Raabe, we found a solid core aerosol business serving a niche market with state-of-the-art manufacturing facilities.”
Quinn added, “Raabe’s research and manufacturing base made it a unique platform on which to launch our coatings initiative. We expect to make complementary acquisitions to their core business and to extend their capabilities into new applications.”